https://www.taxtmi.com/caselaws?id=328335 The Tribunal allowed the assessee's appeal regarding the disallowance of additional depreciation under section 32(1)(iia) of the Income Tax Act. It held that the assessee was entitled to the remaining 10% of the additional depreciation in the year under consideration, directing the AO to allow the balance 50% in the succeeding year. The Tribunal relied on precedents supporting the assessee's claim and emphasized interpreting beneficial legislation liberally. The lower authorities' orders were set aside, and the appeal was partly allowed on 26th April 2016 in Chennai. en-us Tue, 26 Apr 2016 00:00:00 +0530 Wed, 01 Jun 2016 21:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328335 The Tribunal allowed the assessee's appeal regarding the disallowance of additional depreciation under section 32(1)(iia) of the Income Tax Act. It held that the assessee was entitled to the remaining 10% of the additional depreciation in the year under consideration, directing the AO to allow the balance 50% in the succeeding year. The Tribunal relied on precedents supporting the assessee's claim and emphasized interpreting beneficial legislation liberally. The lower authorities' orders were set aside, and the appeal was partly allowed on 26th April 2016 in Chennai. Case-Laws Income Tax Tue, 26 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328335