Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (3) TMI 189 - AT - Income TaxDisallowance of ‘additional depreciation’ on windmill - whether the assessee is entitled to additional depreciation @ 20% concerning assessment years prior to AY 2013 -14 with reference to business of generation and distribution of power in terms of S. 32(1)(iia) as it stood prior to its amendment effective from 01.04.2013 ? - assessee engaged in business of generation and distribution of power - Held that:- Madras High Court in the case of CIT v. Atlas Export Enterprises [2015 (3) TMI 846 - MADRAS HIGH COURT] wherein considered the provisions of section 32(1)(iia) of the Act holding that the power generated by windmill was entitled to the benefit of depreciation as contemplated by Sec.32(1)(iia) as aforesaid. Restricting the depreciation to 10% on cost of temporary approach road and fencing, in view of admission of assessee is decided against the assessee following the ratio laid down in Poonawala Finvest & Agro Pvt. Ltd. [2008 (6) TMI 586 - ITAT PUNE ]
|