Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2023 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (3) TMI 630 - HC - Income TaxAdditional depreciation - Tribunal justification in allowing the claim of additional depreciation in the subsequent year because as per provisions of Section 32(1)(iia) any new (and not any old) machinery or plant acquired or installed is eligible for additional depreciation - HELD THAT:- It cannot be disputed by the revenue that substantial question of law, admitted for consideration in this appeal, has been answered against the revenue. Several decisions have been referred to in this connection, in the case of Principal Commissioner of Income Tax, Central - 1, Kolkata Vs. Ramkrishna Forging Limited [2022 (7) TMI 1312 - CALCUTTA HIGH COURT] and in the case of Commissioner of Income Tax, Chennai Vs. Aztec Auto (P.) Ltd. [2020 (9) TMI 541 - MADRAS HIGH COURT] - Following the said decision, the substantial question of law has to be answered against the revenue.
|