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The ITAT held that the assets used for construction power facilities and chain link fencing qualify as temporary structures, erected solely to fulfill contractual obligations and supply electricity to labor and staff. Since these structures are to be dismantled upon completion of the work, the assessee is entitled to claim 100% depreciation on the expenses incurred. The Tribunal allowed the assessee's grounds, affirming that such temporary assets fall within the scope of full depreciation as per prevailing legal principles.
The ITAT held that the assets used for construction power facilities and chain link fencing qualify as temporary structures, erected solely to fulfill contractual obligations and supply electricity to labor and staff. Since these structures are to be dismantled upon completion of the work, the assessee is entitled to claim 100% depreciation on the expenses incurred. The Tribunal allowed the assessee's grounds, affirming that such temporary assets fall within the scope of full depreciation as per prevailing legal principles.
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