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2013 (12) TMI 373 - HC - Income TaxDepreciation on wind mills installed - Held that:- Following Commissioner of Income Tax Vs. VTM Ltd. [2009 (9) TMI 35 - MADRAS HIGH COURT] - While claiming the deduction under Section 32(1)(iia) of the Income Tax Act setting up will mill has nothing to do with the power industry and what is required to be satisfied in order to claim additional depreciation is that the setting up of new machinery or plant should have been acquired and installed by an assessee, who was already engaged in the business of manufacture or production of any article or thing - Depreciation is allowed - Decided against Revenue.
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