case aforesaid Hon'ble Gujarat High Court
held that "Windmill would require a scientifically designed machinery in
order to harness the wind energy ... have no use other than for the purpose of functioning of
the windmill. On the other hand, it can be easily imagined that windmill
cannot
lower authorities have erred in law and
facts by not considering its windmill income as an operating income by
deleting the above transfer pricing adjustment ... come to facts relevant to the instant issue. The assessee has
installed windmill (s) for generating wind power. It thereafter entered into a
wheeling agreement
case are that the assessee has claimed
depreciation on three windmills @ 80% considering all the plant,
machinery & civil construction work in the same block ... windmill. As
per provisions of Section 32 of the Income Tax Act, 1961 (in short the
Act) read with the Rule 5 of the Income
deleting the disallowance of depreciation of
Rs.17200000/- on the windmill at Village
Nu despite the windmill having been
installed only and not having started ... respect the disallowance of depreciation of
Rs.13955850/- on the windmill at Village
Akal.
iii) Whether depreciation is allowable only
when the windmill actually starts
behalf of the assessee is
disallowance of 'additional depreciation' on windmill quantified at Rs.12,62,02,718/-
relevant to assessment year ... assessment proceedings, the
Assessing Officer noticed that the assessee has purchased certain windmills to the
tune of Rs.1,17,33,88,103/- during
assessment year 2008-09, wherein the
opening WDV on "windmill" after claim of additional
depreciation was furnished by the assessee was noticed, which ... showed that the assessee has claimed additional depreciation on
windmill installed for captive power generation, which is not
permissible in law and therefore, the assessment
brief facts qua the issue are that the assessee has two windmills plants, Unit
No. 1 and Unit No. 2. Windmill Unit ... 80IA of the I.T. Act. The profits and gains from windmill Unit No. 1 have been
claimed as deduction u/s 80IA . This
Infrastructure Pvt.Ltd which
was earlier generating power through windmills taken on lease, the assessee's case is hit
by section 80IA ... that as the assessee is
not the owner of the windmills, he runs the windmills in the status of a works contractor
and hence
particulars of income by claiming
higher depreciation i.e. 80% on the windmill than the allowable
depreciation i.e. 40%.
ITA No.170 /RJT/2016 ... Tribunal in the quantum appeal. Appellant had
acquired a Windmill for Rs. 5,50,25,522/- from M/s. Suzion Energy Ltd
erected and installed
Appeals) erred in
estimating the cost of acquisition of second-hand windmill at
`1,50,00,000/- as against actual cost of acquisition of
windmill ... section 43(1) is applicable to the cost of acquisition of
windmill acquired by assessee from M/s Sundararaja Mills
