Depreciation expanded to include power generation and distribution assets, extending statutory asset treatment under amended section 32. The amendment inserts coverage for assets used in the business of generation or generation and distribution of power into the existing clause of section 32(1)(iia), thereby making such articles or things eligible for depreciation under the Income-tax Act and aligning power-sector assets with the statutory depreciation regime.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depreciation expanded to include power generation and distribution assets, extending statutory asset treatment under amended section 32.
The amendment inserts coverage for assets used in the business of generation or generation and distribution of power into the existing clause of section 32(1)(iia), thereby making such articles or things eligible for depreciation under the Income-tax Act and aligning power-sector assets with the statutory depreciation regime.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
