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2019 (3) TMI 1890 - ITAT MUMBAIDisallowance of additional depreciation - HELD THAT:- The assessee being resident corporate entity was stated to be engaged in manufacturing of flexible packaging material, printing cylinders & metallized films. During assessment proceedings, upon perusal of depreciation schedule, it transpired that the assessee claimed additional depreciation u/s 32(1)(iia) on the additions made in fixed assets used for the period of less than 180 days in AY 2012-13. Similar claim was made in the impugned AY and therefore, AO proceeded to disallow the same on the ground that the concerned plant & machinery was already used in various preceding years and it was no longer new plant & machinery. Although the assessee defended the same on the strength of certain judicial pronouncements, however, not convinced, the additional depreciation was disallowed and added to the income of the assessee. We drew attention to the fact that the Tribunal has confirmed the stand of Ld. first appellate authority for immediately preceding AY 2012-13 [2019 (1) TMI 1899 - ITAT MUMBAI] and therefore, the matter stood covered in assessee’s favour.
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