Depreciation allowance for textile machinery purchased under TUFS becomes available when acquired and first used within the prescribed period. An amendment inserts a specific depreciation entry in Appendix I, Part A (Machinery and Plant) for machinery and plant used in weaving, processing and garment sectors of the textile industry when purchased under the Technology Upgradation Fund Scheme (TUFS) within the prescribed TUFS purchase and use window and adds a Note defining TUFS as the Government's Technology Upgradation Fund Scheme resolution.
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Provisions expressly mentioned in the judgment/order text.
Depreciation allowance for textile machinery purchased under TUFS becomes available when acquired and first used within the prescribed period.
An amendment inserts a specific depreciation entry in Appendix I, Part A (Machinery and Plant) for machinery and plant used in weaving, processing and garment sectors of the textile industry when purchased under the Technology Upgradation Fund Scheme (TUFS) within the prescribed TUFS purchase and use window and adds a Note defining TUFS as the Government's Technology Upgradation Fund Scheme resolution.
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