erred in directing the A.O. to allow the claim of additional depreciation and delete
the addition of Rs, 1,58,29,479/- without appreciating ... depreciation shall not be available in the subsequent
year. Section 32(2) provides for a carry forward set up of unabsorbed depreciation.
This additional benefit
facts :
(a) In restricting the investment allowance and additional depreciation in respect of certain items of plant [as defined under s. 43(3)] and machinery ... upholding the non-allowance of investment allowance and additional depreciation in respect of certain items of plant [as defined under s. 43(3)] and machinery
that the central
issue revolves on the point of admissibility of additional depreciation on plant &
machinery used in the business of mining of coal ... returned income. In the said return, the assessee
had claimed additional depreciation u/s 32(1)(iia) of the Act amounting
erred in law by deleting of additions on
account (1) Additional depreciation of Rs.77,78,79,369/-
, (2) ERPC charges ... additions made by the Assessing Officer on account of additional
depreciation, ERPC charges and disallowance under section 14A. As
agreed by the ld. Representatives
arise for our adjudication in both the appeals are,
allowability of additional depreciation u/s 32(1)(iia) of the Act, allowability ... Assessing Officer
has disallowed the claim of the assessee for additional depreciation on the ground that,
the assessee has not submitted break-up details
raises two
substantive grounds in first assessment year inter alia challenging additional
depreciation disallowance of Rs.67,20,175/- claimed ... assessee's first substantive ground raising the issue of
additional depreciation. This assessee is a excavation work contractor. It
claimed additional depreciation amount
case, ld CIT(A) has erred in
deleting disallowance of additional depreciation ... manufacture of pet bottles for packing of beverages. The assessee claimed
additional depreciation on Visocooler amounting
Tribunal was justified in law in allowing additional depreciation claim
of Rs. 2,18,50,976/= @ 20% under Section 32 [1](iia) of the
Income ... required to be noted that the
assessee claimed the additional depreciation under Section
ITAT in its order has
decided the issue of allowability of additional depreciation on new plant
or machinery, claimed in the subsequent year of first ... additional allowance. we are in full agreement with
such observations made by the Tribunal"
12. Subsequently, the said issue of additional depreciation was
decided
short substantial question of law involved in this appeal is:
Whether additional depreciation of 20% on plant and machinery used for production of ready ... inter alia, rejecting the claim of the appellant-assessee to additional depreciation under Section 32(1)(iia) of the Income Tax Act, 1961, in respect
