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2011 (8) TMI 149 - HC - Income TaxDepreciation - Higher rate of depreciation - The amendment in S. 43 (3) w.e.f. 1.4.2004 is only clarificatory in nature, and which excluded the live stock or buildings or furniture and fittings from the plant - In case of cold storage as it was found by Calcutta High Court, the building is required to be constructed for cooling chambers in a specific process and manner and without such specific process and manner a chamber cannot be commissioned, for which a licence is also required to be obtained - assessee will be entitled to compute and to take benefit of depreciation on the cooling chambers of the cold storage in the relevant assessment year, at the notified rate of 25%
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