Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (11) TMI 1299 - ITAT DELHIDisallowance of additional depreciation u/s 32(1)(iia) - asset put to use - Held that:- The assessee could not claim 100% of the depreciation in the year of installation of plant and machinery because it was put to use for the purpose of business for a period of less than 180 days and claimed 50% of depreciation in the year of installation of plant and machinery, the remaining 50% was claimed in the year under consideration. The intention of the legislation is absolutely clear that the assessee shall be allowed certain additional benefit, which was restricted by the proviso to half being granted in one assessment year, if certain condition was not fulfilled, but that would not restrain the assessee from claiming balance of the benefit in the subsequent assessment year. In the present case the assessee claimed 50% of depreciation allowable @ 20% under Section 32(1)(iia) of the Act and the remaining 50% was claimed in the year under consideration. Therefore, by following the ratio laid down in the case of Commissioner of Income Tax and Another Vs. Rittal India Pvt. Ltd., (2016 (1) TMI 81 - KARNATAKA HIGH COURT ) the impugned order is set aside and the Assessing Officer is directed to allow the claim of the assessee.
|