https://www.taxtmi.com/caselaws?id=64447 The leasing company's appeal regarding the grant of extra shift depreciation allowance for assessment years 1982-83, 1983-84, and 1984-85 was dismissed. The court held that the company was not entitled to claim the allowance for plant & machinery leased out to others as the allowance is linked to the working of the concern, not solely ownership of the machinery. The decision emphasized that only the concern using the machinery can claim the allowance based on double or triple shift working. The appeals were dismissed based on the interpretation of rules and legislative intent behind the provision of extra shift depreciation allowance. en-us Tue, 29 Aug 1989 00:00:00 +0530 Mon, 07 Feb 2011 18:43:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64447 The leasing company's appeal regarding the grant of extra shift depreciation allowance for assessment years 1982-83, 1983-84, and 1984-85 was dismissed. The court held that the company was not entitled to claim the allowance for plant & machinery leased out to others as the allowance is linked to the working of the concern, not solely ownership of the machinery. The decision emphasized that only the concern using the machinery can claim the allowance based on double or triple shift working. The appeals were dismissed based on the interpretation of rules and legislative intent behind the provision of extra shift depreciation allowance. Case-Laws Income Tax Tue, 29 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64447