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2012 (7) TMI 429 - AT - Income TaxEligible for claiming additional depreciation u/s 32(1)(iia) - prior to the installation of the wind mill, assessee was doing only the business of transportation of spirit and molassess - Held that:- As decided in C.I.T v. VTM Ltd. [2009 (9) TMI 35 (HC)]what is required to be satisfied in order to claim the additional depreciation is that the setting up of a new machinery or plant should have been acquired and installed after 31st March, 2002 by an assessee, who was already engaged in the business of manufacture or production of any article or thing - here, the assessee was not into any business of manufacture or production but only transportation of molasses and spirit. Thus, the first condition is not satisfied and thus not eligible for claiming additional depreciation - against assessee.
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