Depreciation allowance for pollution-control machinery increased, providing enhanced tax benefit for notified installations in industrial undertakings. A new clause allows depreciation for new machinery or plant used in repairs to ocean-going vessels by Indian companies approved by the Central Government for assets installed after 31 March 1983 and before 1 April 1988, and the Explanation is amended to reference the new provision. Separately, machinery or plant notified by the Central Government as assisting pollution control or environmental protection, when installed after 31 May 1983 in specified industrial undertakings, is to receive an enhanced depreciation treatment, effective 1 June 1983.
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Provisions expressly mentioned in the judgment/order text.
Depreciation allowance for pollution-control machinery increased, providing enhanced tax benefit for notified installations in industrial undertakings.
A new clause allows depreciation for new machinery or plant used in repairs to ocean-going vessels by Indian companies approved by the Central Government for assets installed after 31 March 1983 and before 1 April 1988, and the Explanation is amended to reference the new provision. Separately, machinery or plant notified by the Central Government as assisting pollution control or environmental protection, when installed after 31 May 1983 in specified industrial undertakings, is to receive an enhanced depreciation treatment, effective 1 June 1983.
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