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Additional Depreciation u/s 32(1)(iia) of the Income Tax Act 1961

Income Tax - 15/2016 - Dated:- 19-5-2016 - Circular No. 15/2016 F.No.279/Misc/140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 19th May 2016 Subject: -reg. An assessee, engaged in the business of manufacture or production of an article or thing, is eligible to claim additional depreciation under clause (iia) of sub-section (1) of section 32 of the Income-tax Act, 1961 (hereinafter referred to as the Act) in addition to the deprec .....

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mi Printing & Publishing Co. vide its judgment (2015-LL-0216-3 NJRS) dated 16.2.2015 in ITA No 23 of 2015 relied upon the Hon'ble Delhi High Court judgement dated 31.5.2013 in ITA No 49 of 1996 in the case of Delhi Press Patra Prakashan Ltd. (2013-LL-0531-176 NJRS) and held that printing and publishing activity is a manufacturing activity and therefore, assessee is eligible for grant of additional depreciation u/s 32(1)(iia). 4. The Board has accepted the position that printing or printi .....

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