Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (4) TMI 536 - AT - Income TaxDisallowance of additional depreciation - Scope of amendment to section 32(1)(iia) - depreciation claimed by the assessee relates to assets acquired in the preceding assessment year, wherein the assets were used for less than 180 days and only 10% of depreciation was claimed in earlier year - whether CIT(A) has erred in directing the Assessing Officer to allow the assessee’s claim of additional depreciation by relying on the decision in the case of Brakes India Ltd [2017 (4) TMI 511 - MADRAS HIGH COURT] on the ground that the issue involved relates to the assessment year 2014-15, whereas the amendment to section 32(1)(iia) by Finance Act 2015 came into force only from 01.04.2016 and not retrospectively - HELD THAT:- Respectfully following the decision of the Tribunal [2017 (5) TMI 1694 - ITAT CHENNAI], we find no reason to interfere with the order passed by the ld. CIT(A) on this issue. Moreover, the ld. DR has not explained the impact on the amendment made vide Finance Act, 2015 with effect from 01.04.2016 by substituting “or in the business of generation or generation and distribution” in the existing subsection (iia) to section 32(1) of the Act to the earlier decisions of the Tribunal or the decision of the Hon’ble Madras High Court in the case of Brakes India Ltd. v. DCIT [2017 (4) TMI 511 - MADRAS HIGH COURT] or the decision of CIT v. Rittal India (P) Ltd. [2016 (1) TMI 81 - KARNATAKA HIGH COURT]. Accordingly, the ground raised by the Revenue stands dismissed.
|