https://www.taxtmi.com/caselaws?id=238198 The court ruled in favor of the respondent, affirming that machinery used for embroidery on cloth in the textile industry qualifies for higher depreciation under the Textiles Upgradation Fund Scheme. The broader interpretation of activities in the garment sector was emphasized, allowing for eligibility beyond weaving and processing. The court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, dismissing the revenue's appeal and highlighting the inclusive nature of eligibility criteria for enhanced depreciation. en-us Tue, 23 Jul 2013 00:00:00 +0530 Fri, 18 Oct 2013 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238198 The court ruled in favor of the respondent, affirming that machinery used for embroidery on cloth in the textile industry qualifies for higher depreciation under the Textiles Upgradation Fund Scheme. The broader interpretation of activities in the garment sector was emphasized, allowing for eligibility beyond weaving and processing. The court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, dismissing the revenue's appeal and highlighting the inclusive nature of eligibility criteria for enhanced depreciation. Case-Laws Income Tax Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238198