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
assessee is entitled to investment allowance
under s. 32A(1) and additional depreciation under s. 32(1)(iia),
on a computer purchased by the assessee ... that the computer has not been so used, investment
allowance and additional depreciation are not admissible on a
computer installed by the assessee
Additional depreciation is a depreciation added to the depreciation allowable under Rule 5 in certain cases. Therefore, it is an addition to the depreciation allowable ... Rule 5. Therefore, additional depreciation is not a proposition outside the scope of Rule 5 when both depreciation and additional depreciation are provided
depreciation permitted under section 10 (2) (vi) . In respect of certain buildings, machinery and plant the ordinary depreciation is doubled and that doubled depreciation ... additional depreciation allowance, are different. The concept of depreciation allowance is that it is spread over a number of years and the depreciation allowance
rejection of the Assessee's claim to carry forward additional depreciation, in the year subsequent to the previous year, in which, the subject asset ... subjected to depreciation, and therefore, the Assessee is not permitted to calculate and provide for depreciation separately, qua, the asset, on which, additional depreciation
only. The assessee-company also claimed additional depreciation under Section 32(1)(iia) of the Act on machinery valued at Rs, 6,50,050 irrespective ... year under consideration. The Income-tax Officer did not allow additional depreciation on the machinery claimed by the assessee on the ground that the provisions
discretion considers proper including in
particular for off-setting any additional depreciation that
may be charged by the Transferee company.
Explanation: Additional depreciation means
depreciation ... discretion with liberty to set-off against the reserve created against
additional depreciation that may be charged/claimed by the BIL. The
reserve
