https://www.taxtmi.com/caselaws?id=248656 The ITAT, Ahmedabad, upheld the CIT(A)'s decisions in a case concerning the allowability of additional depreciation on an embroidery machine and the disallowance of balance additional depreciation on machinery installed in the previous year. It ruled in favor of the assessee, considering embroidery work as a manufacturing activity and allowing the claimed depreciation. The ITAT emphasized the need to interpret provisions related to additional depreciation liberally to promote industrialization, dismissing the revenue's appeal. en-us Fri, 31 May 2013 00:00:00 +0530 Thu, 19 Jun 2014 19:49:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248656 The ITAT, Ahmedabad, upheld the CIT(A)'s decisions in a case concerning the allowability of additional depreciation on an embroidery machine and the disallowance of balance additional depreciation on machinery installed in the previous year. It ruled in favor of the assessee, considering embroidery work as a manufacturing activity and allowing the claimed depreciation. The ITAT emphasized the need to interpret provisions related to additional depreciation liberally to promote industrialization, dismissing the revenue's appeal. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248656