after going through the assessment
order, felt that the AO allowed additional depreciation under
Section ... Depreciation:
(i) The value base for the purpose of depreciation shall
be the historical cost of the asset.
Depreciation shall be calculated annually
income from other sources' and that no additional
depreciation and development rebate could be allowed.
In appeal to this Court it was contended that ... assessee should be held to be
entitled to additional depreciation and development rebate
under cls. (vi-a) and (vi-b) even if the assessment
depreciation admissible under
the Income-tax Act is not allowable in determining the
available surplus. The initial depreciation and the
additional depreciation are abnormal additions ... subsequent Full Bench held that only normal depreciation
including multiple shift depreciation, but not initial or
additional depreciation, should rank as prior charge in
applying
claim, made by the Assessee, with respect to balance 10% of additional depreciation, under Section 32(1)(iia) of the Act, was sustainable ... ought not to be disallowed the balance additional depreciation claimed at the rate of 10% for A.Y.2011-12, in respect of machinery purchased
Birla Corporatation Limited., Kolkata vs D.C.I.T Cir - 6,Kolkata., Kolkata on 25
assessment had allowed
depreciation of Rs. 8,72,84,028/- (including additional depreciation of
Rs. 1,74,56,802/-) as claimed by the assessee ... additional deprecation remained the
same, and thus now when the assessee duly satisfied all the requisite
conditions therein entitling it to claim additional depreciation,
therefore
erred in wing the additional
depreciation of Rs.4,49,49,17,000/- by relying on the
decision of the Hon'ble ITAT ... erred in ignoring the fact that
the additional depreciation on power generating
equipments was available till 1987-88 and also the
activity of power generation
Next ground of appeal urged by the assessee relates to additional
depreciation claimed u/s. 32(1)(iia) of the Act. The Assessing Officer noticed ... depreciation allowance. On the lines of allowability of general
depreciation allowance, the second proviso to section 32(1) inter alia
provides that the additional depreciation
erred in
law by allowing assessee's claim of additional depreciation of plant and machinery
on original cost in the year subsequent ... without
appreciating the fact that such additional depreciation is allowable on plant and
machinery only in the year of acquisition and installation."
25. This
whether the ld CITA was justified
in deleting the disallowance of additional depreciation in the sum of Rs 12,45,778/- in
the facts ... said plant during the course of assessment proceedings.
The assessee claimed additional depreciation u/s 32(1)(iia) of the Act for the same
