TMI Blog2009 (3) TMI 1006X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the first appellate authority granting additional depreciation under s. 32(1)(iia) of the IT Act, 1961. 2. We have heard standing counsel appearing for the appellant. 3. The respondent is a public sector company under Central Government engaged in manufacture and sale of newsprint. The plant in respect of which additional depreciation is claimed is a de-inking plant in which pulp is mad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king existing before the 1st day of April, 2002, during any previous year in which it achieves the substantial expansion by way of increase in installed capacity by not less than twenty-five per cent. 4. The above provision was later modified dispensing with the requirement of increase in installed capacity as a condition for eligibility for additional depreciation. In this case the contention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the respondent-assessee cannot sell pulp as a product. The fact that pulp is an intermediary product and is generally consumed captively in the manufacture of newsprint does not mean that pulp is not a product that cannot be marketed by the respondent as and when they desire. There is no dispute that pulp is a marketable commodity. If there is reduction in the manufacture of final product on acco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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