https://www.taxtmi.com/caselaws?id=220942 The Tribunal upheld the decision to disallow claimed additional depreciation on plant and machinery, as the assets did not meet the post-March 31, 2005 acquisition requirement under section 32(1)(iia) of the Income Tax Act, 1961. The Tribunal emphasized that both acquisition and installation must occur after the specified date for an assessee to qualify for additional depreciation benefits. It was highlighted that courts interpret laws and do not create them, leading to the dismissal of the appeal and affirming the denial of additional depreciation. en-us Fri, 21 Dec 2012 00:00:00 +0530 Fri, 15 Feb 2013 06:58:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220942 The Tribunal upheld the decision to disallow claimed additional depreciation on plant and machinery, as the assets did not meet the post-March 31, 2005 acquisition requirement under section 32(1)(iia) of the Income Tax Act, 1961. The Tribunal emphasized that both acquisition and installation must occur after the specified date for an assessee to qualify for additional depreciation benefits. It was highlighted that courts interpret laws and do not create them, leading to the dismissal of the appeal and affirming the denial of additional depreciation. Case-Laws Income Tax Fri, 21 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220942