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2015 (10) TMI 1597 - AT - Income TaxCarry forward balance 50% of claim of additional depreciation to subsequent year - Held that:- The Delhi Bench of the Tribunal in DCIT v/s Cosmo Films Ltd. (2012 (9) TMI 281 - ITAT DELHI ), held that in section 32(1)(iia) of the Act, the expression used is "shall be allowed". Thus, the assessee company earned the benefit as soon as it has purchased new plant and machinery in full but restricted to 50% in that particular year on account of period of usages. Such restrictions cannot divert the statutory right of the assessee. Thus, the assessee is entitled to depreciation in the subsequent year, if the entire depreciation is not allowed in the first year of installation. The assessee is entitled for 50% of the additional depreciation and there is no restriction to claim the additional depreciation, if otherwise available, to the assessee. - Decided in favour of assessee.
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