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2017 (2) TMI 955 - AT - Income TaxAdditional depreciation under section 32(1)(iia) in the subsequent year of installation of the new machinery - Held that:- The assessee has installed this machinery during the financial year relevant to the assessment year 2008-09 and since the machinery was put to use for less than 180 days during the financial year 2009-08, the assessee claimed only 10% additional deduction on this account. For the year under consideration, the assessee has again claimed balance 10% additional depreciation on the said machinery which was disallowed by the AO as well as by CIT(A). An identical issue fell for the consideration in the case of CIT(A) Vs. Rittal India Pvt. Ltd. [2016 (1) TMI 81 - KARNATAKA HIGH COURT] wherein held that this provision is a beneficial legislation and should be given liberal interpretation. Accordingly, the Hon’ble High Court has upheld the decision of this Tribunal in allowing the additional depreciation being onetime benefit to encourage the industrialization in the subsequent year. - Decided in favour of assessee
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