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2018 (6) TMI 50 - AT - Income TaxHigher rate of depreciation on “injection Molding Machine” - CIT-A allowing depreciation @ 30% as against 15% allowed by the AO - Held that:- Since the appellant is engaged in the manufacture and printing of laminated pouches and plastic bags, the 'injection moulding machine' used in such manufacturing can only be termed as moulding machine and, therefore, the same shall qualify for higher rate of depreciation (@30%) instead of 15% as allowed by the A.O. The remaining equipment e.g. office equipments, electrical fittings, lab equipments etc. shall not come under this block and no higher rate of depreciation shall be applicable on these assets. The appellant's argument that since ‘main machinery' used by it is 'injection moulding machine', all the items should qualify for depreciation @30% is devoid of merits since lab equipments, electrical fittings, vehicles etc. form separate block of assets on which different rates of depreciation are applicable. - Decided against revenue
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