https://www.taxtmi.com/caselaws?id=266322 The Tribunal dismissed the Revenue's appeal and upheld the decision allowing the assessee to carry forward 50% of the additional depreciation claim. The Tribunal emphasized the statutory right of the assessee to claim additional depreciation should not be restricted based on the period of asset usage, citing relevant provisions of the Income Tax Act and judicial precedents. This case establishes a precedent supporting the entitlement of manufacturing sector entities to claim additional depreciation incentives, regardless of asset usage duration. en-us Mon, 01 Jun 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:34:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266322 The Tribunal dismissed the Revenue's appeal and upheld the decision allowing the assessee to carry forward 50% of the additional depreciation claim. The Tribunal emphasized the statutory right of the assessee to claim additional depreciation should not be restricted based on the period of asset usage, citing relevant provisions of the Income Tax Act and judicial precedents. This case establishes a precedent supporting the entitlement of manufacturing sector entities to claim additional depreciation incentives, regardless of asset usage duration. Case-Laws Income Tax Mon, 01 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266322