https://www.taxtmi.com/caselaws?id=325273 The ITAT upheld the CIT(A)'s decision allowing additional depreciation on a windmill for Assessment Year 2006-07, despite the revenue's appeal. The court emphasized that the windmill was used for manufacturing and production activities, making the assessee eligible for the depreciation claimed, in line with a decision of the Madras High Court. The core issue revolved around the eligibility for depreciation under Section 32(1)(iia) for an asset not directly linked to the core manufacturing business, with the court ultimately ruling in favor of the assessee based on the nature of activities conducted using the windmill. en-us Wed, 24 Feb 2016 00:00:00 +0530 Tue, 15 Mar 2016 13:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325273 The ITAT upheld the CIT(A)'s decision allowing additional depreciation on a windmill for Assessment Year 2006-07, despite the revenue's appeal. The court emphasized that the windmill was used for manufacturing and production activities, making the assessee eligible for the depreciation claimed, in line with a decision of the Madras High Court. The core issue revolved around the eligibility for depreciation under Section 32(1)(iia) for an asset not directly linked to the core manufacturing business, with the court ultimately ruling in favor of the assessee based on the nature of activities conducted using the windmill. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325273