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2022 (3) TMI 1184 - AT - Income TaxAdditional depreciation in case of acquisition and installation of new machinery or plant by an Assessee after 31 March, 2005 - Only 50% of the additional depreciation was allowed in AY 2012-13 and balance 50% of the Additional Depreciation is claimed in the AY 2013-14 - HELD THAT:- As decided in M/S. DAMODAR JAGANNATH MALPANI [2021 (10) TMI 416 - ITAT PUNE] appellant is eligible to claim the balance additional depreciation in AY 2013-14 on the new assets purchased in AY 2012-13 but only half the additional depreciation were claimed by the appellant in AY 2012-13 as the assets were used for less than 6 months. Thus, the appeal in Ground No. 1 of the assessee is allowed. Disallowance u/s 14A r.w.r. 8D - HELD THAT:- We find that there is exempt income earned by the appellant. No new facts have been brought to our notice. Therefore, the order of the ld. CIT(A) is confirmed. Accordingly, the appeal in Ground No. 2 of assessee is dismissed.
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