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2013 (5) TMI 353 - AT - Income TaxAdditional depreciation on windmill - As per revenue the provisions of Section 32(1)(iia) of the Act refers to the expression "engaged in the business of manufacture and production of any article or thing" and mentioned that the assessee who is only engaged in the construction business is in the past, undisputedly not engaged in the business of manufacturing and production of electricity i.e. any article or a thing. Held that:- The specific interpretation given by the cited decisions of Honble High Court of Madras in CIT v. VTM Ltd. [2009 (9) TMI 35 - MADRAS HIGH COURT] or the Chennai Bench of the Tribunal in Shiva Cargo Movers Ltd. [2012 (7) TMI 429 - ITAT CHENNAI] to the expression "engaged in the business of manufacture or production of any article or things" used in the said clause (iia) to section 32(1) of the Act remain unchanged. The provisions of section 32(1)(iia) of the Act have been interpreted by the Chennai Bench of the Tribunal to hold that the assessee who is already engaged in the business of production or manufacture of an article or a thing or good in the past alone is entitled to the claim of additional depreciation. There is no other contrary decision in existence on the issue. Further, the assessee is not engaged in the business of manufacture or production of an article or thing prior to the manufacture of the electricity using the impugned 'windmill'. Thus, assessee is not entitled to the claim of additional depreciation according for the above said decisions. - Decided against the assessee.
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