https://www.taxtmi.com/caselaws?id=212559 The Tribunal upheld the CIT(A)'s decision in a tax matter regarding additional depreciation and wastage in the production process. The CIT(A) allowed the claim for additional depreciation, considering the integrated manufacturing process of transforming semi-manufactured blades into usable products. The Tribunal agreed that the processes constituted manufacturing, entitling the assessee to additional depreciation. Additionally, the Tribunal upheld the deletion of an addition on account of wastage, as the amount represented the value of closing stock of raw material already accounted for in the manufacturing activity. The revenue's appeal was dismissed, affirming the CIT(A)'s decisions on both issues. en-us Fri, 25 Nov 2011 00:00:00 +0530 Tue, 20 Nov 2012 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212559 The Tribunal upheld the CIT(A)'s decision in a tax matter regarding additional depreciation and wastage in the production process. The CIT(A) allowed the claim for additional depreciation, considering the integrated manufacturing process of transforming semi-manufactured blades into usable products. The Tribunal agreed that the processes constituted manufacturing, entitling the assessee to additional depreciation. Additionally, the Tribunal upheld the deletion of an addition on account of wastage, as the amount represented the value of closing stock of raw material already accounted for in the manufacturing activity. The revenue's appeal was dismissed, affirming the CIT(A)'s decisions on both issues. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212559