https://www.taxtmi.com/caselaws?id=177427 The ITAT Mumbai allowed the appeal, granting the assessee the claim for balance additional depreciation for machinery acquired in the previous year but claimed in the subsequent year. The ITAT held that the assessee is entitled to depreciation in the subsequent year if full depreciation was not allowed in the first year of installation, emphasizing the promotion of industrialization and ensuring that the overall deduction of depreciation under section 32 does not exceed the total cost of plant and machinery. en-us Mon, 13 May 2013 00:00:00 +0530 Tue, 25 Apr 2017 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177427 The ITAT Mumbai allowed the appeal, granting the assessee the claim for balance additional depreciation for machinery acquired in the previous year but claimed in the subsequent year. The ITAT held that the assessee is entitled to depreciation in the subsequent year if full depreciation was not allowed in the first year of installation, emphasizing the promotion of industrialization and ensuring that the overall deduction of depreciation under section 32 does not exceed the total cost of plant and machinery. Case-Laws Income Tax Mon, 13 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177427