https://www.taxtmi.com/article/detailed?id=1948 Generation of electricity constitutes production akin to manufacture because electricity can be transmitted, transferred and possessed, and its generation brings a new product into existence. The Tribunal held that an assessee operating windmills qualified as engaged in manufacturing activity and satisfied conditions for claiming additional depreciation under the income tax provisions, a view reinforced by a subsequent legislative amendment expressly covering generation or distribution of power. en-us Fri, 16 Nov 2012 06:07:40 +0530 Fri, 16 Nov 2012 06:07:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1948 Generation of electricity constitutes production akin to manufacture because electricity can be transmitted, transferred and possessed, and its generation brings a new product into existence. The Tribunal held that an assessee operating windmills qualified as engaged in manufacturing activity and satisfied conditions for claiming additional depreciation under the income tax provisions, a view reinforced by a subsequent legislative amendment expressly covering generation or distribution of power. Articles Income Tax Fri, 16 Nov 2012 06:07:40 +0530 https://www.taxtmi.com/article/detailed?id=1948