Depreciation on windmills limited by installation cut off, distinguishing tax treatment for pre and post cutoff installations. The Income tax (4th Amendment) Rules, 2012, effective 1 April 2012, insert the words 'installed on or before 31st day of March, 2012' into clauses (l) and (m) of item (8), sub item (xiii) under 'III. Machinery and Plant' in New Appendix I Part A (Tangible Assets), thereby restricting the pre amendment depreciation treatment to wind energy plant and machinery installed on or before that date.
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Provisions expressly mentioned in the judgment/order text.
Depreciation on windmills limited by installation cut off, distinguishing tax treatment for pre and post cutoff installations.
The Income tax (4th Amendment) Rules, 2012, effective 1 April 2012, insert the words "installed on or before 31st day of March, 2012" into clauses (l) and (m) of item (8), sub item (xiii) under "III. Machinery and Plant" in New Appendix I Part A (Tangible Assets), thereby restricting the pre amendment depreciation treatment to wind energy plant and machinery installed on or before that date.
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