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2017 (4) TMI 411 - HC - Income TaxAdditional depreciation - assessee not permitted to carry forward, the balance additional depreciation, to the following year, in which, the said asset had been installed and first put to use - Held that:- The provision incorporates within itself certain attributes qua the asset in issue based on which the Assessee can claim additional depreciation. The word 'new' which precedes 'machinery or plant' is indicative of the type of asset, on which, additional depreciation can be claimed. In our opinion, it does not, in any way, limit or restrict the claim for additional depreciation, to the previous year, in which, the said asset is installed and used. Accordingly, in our view, the Assessee cannot be prevented from claiming balance additional depreciation in the following year. - Decided in favour of assessee
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