https://www.taxtmi.com/caselaws?id=249950 The Tribunal upheld the CIT(A)'s decision, allowing additional depreciation on a windmill used for power generation. Relying on precedents like CIT vs. Hi Tech Arai Ltd., the Tribunal emphasized that setting up new machinery for manufacturing qualifies for additional depreciation under section 32(1)(iia) of the IT Act, regardless of operational connectivity. The judgment highlights the significance of legal precedents and statutory interpretation in determining tax implications for depreciation claims on assets utilized for power generation. en-us Tue, 29 Apr 2014 00:00:00 +0530 Sat, 26 Jul 2014 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249950 The Tribunal upheld the CIT(A)'s decision, allowing additional depreciation on a windmill used for power generation. Relying on precedents like CIT vs. Hi Tech Arai Ltd., the Tribunal emphasized that setting up new machinery for manufacturing qualifies for additional depreciation under section 32(1)(iia) of the IT Act, regardless of operational connectivity. The judgment highlights the significance of legal precedents and statutory interpretation in determining tax implications for depreciation claims on assets utilized for power generation. Case-Laws Income Tax Tue, 29 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249950