Additional depreciation u/s. 32(1)(iia) on block of assets like ...

Income Tax

December 18, 2021

Additional depreciation u/s. 32(1)(iia) on block of assets like Computers and Software - Assets eligible for additional depreciation must be plant or machinery. Also that such plant or machinery should not be installed in any office premises or residential accommodation. We note that the development activity carried on by the assessee cannot be considered to be a manufacturing activity. - However, the alternative plea to allow the deprecation in the subsequent assessment year on the enhanced WDV of block of assets at the prevailing rates cannot be denied. - AT

View Source

← Previous Next →

Additional depreciation u/s. 32(1)(iia) on block of assets like ...

Income Tax

December 18, 2021

You may also like:

Additional depreciation - business of manufacture of cold drinks - the assessee is legally entitled to avail the benefit of additional depreciation under Section...

The activity of drying and threshing of tobacco leaves amounts to manufacture, which is eligible for additional depreciation as per the provisions of section 32(iia) of the Act

Additional depreciation u/s 32(1)(iia) - Running a canteen cannot be said to be manufacturing of an article or thing. - AT

Additional depreciation on diagnostic/service equipments claimed as a deduction u/s. 32(1)(iia) - assessee is eligible for additional depreciation on vaporizers u/s....

Process of compression of natural gas is a manufacture for claiming additional depreciation u/s.32(iia) - AT

Depreciation - the assessee was eligible for depreciation on the ‘Right to collect Toll’, being an ‘intangible asset’ falling within the purview of section 32(1)(ii) of...

Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

Eligibility for additional depreciation u/s 32(1)(iia) on plant and machineries relating to Seed Division - the instant activity of the assessee is held to be an...

Additional depreciation claim @ 20% - the provision of section 32(1)(iia) is required to be interpreted reasonably and purposively as the strict and literal reading of...

The assessee is eligible for the claim of depreciation u/s 32(1)(ii) on the amount of intangible assets acquired by it as per Business Transfer Agreement - AT

Quick Updates: