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2015 (10) TMI 1409 - AT - Income TaxAdditional depreciation u/s.32(1)(iia) rejected - Held that:- In a situation when the Assessee is in the business of embroidery processing and for that machinery was installed then he is entitled for additional depreciation u/s.32(1)(iia). We have also noted that the Hon’ble Apex Court in the case of S.S.M & Brothers Pvt. Ltd., (1999 (1) TMI 2 - SUPREME Court) has also held that a machinery used for the production of embroidery is entitled for the development rebate therefore applying the same legal ratio the Tribunal has held that such type of machinery is also entitled for additional depreciation. - Decided in favour of assessee.
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