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
accordingly allowed.
39
46. Next ground relates to claim of additional depreciation of Rs.9.79
crores.
47. Facts on record show that after ... with the appellant. The
assessee, in its return of income, claimed additional depreciation
under section 32(1)(iia) of the Act in respect
facts and in law in not deleting
the disallowance of additional depreciation of Rs. 14.93 crores
claimed by the appellant under section ... installed capacity of the manufacturing plant for the purposes of
claiming additional depreciation thereon under section 32(1)(iia)
of the Act, without appreciating that
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
assessee does not claim the depreciation and does not furnish
particulars for claiming depreciation, as prescribed, depreciation
cannot thrust upon him." To remedy ... additional claim at the rate of 20% has necessarily to be allowed as
deduction under clause (ii). Once the claim of additional depreciation
under clause
that the assessee
furnished the additional evidences i.e. form 3AA for the
purposes of claiming additional depreciation under clause (iia)
of Sub-section ... Form 3AA as
an additional evidence for claim of additional
22 ITA No. 2166/Del/2011
Cornell Overseas (P) Ltd.
depreciation
deleting the disallowance of Rs. 6,85,662/- on
account of additional depreciation claimed u/s 32 (l)(iia) of the Act
without considering ... depreciation of ₹ 1,750,853/- computed under
the provisions of The Income Tax Act and Income Tax Rules, 1962. The
above amount of depreciation/ additional
disallowing Rs.
46,55,953 on account of additional depreciation.
9. Without prejudice to the ground number 8 above, the order passed by learned
DCIT ... produce the evidence and show cause as to why the additional depreciation
should not be disallowed.
10. The Ld. DCIT has erred on facts
erred in law as well as on facts by allowing the
additional depreciation u/s 32(1)(iia) only on those assets which are used ... different stations and at
collection centers are also eligible for additional depreciation u/s 32(l)(iia)
of I.T. Act
2. That
amounting to INR 87,12,690/-, on account
of additional depreciation claimed by the Appellant on new Plant and
Machinery in accordance with the provisions ... assessment
proceedings, the Assessing Officer noted that the assessee has claimed additional
depreciation to the tune of Rs.3,03,91,277/-. From the various
