https://www.taxtmi.com/caselaws?id=341541 The court allowed the Assessee's appeal, permitting the carry forward of additional depreciation to the subsequent year when the asset was used for less than 180 days in the previous year. The court relied on Section 32(1)(iia) of the Income Tax Act and the interpretation by the Karnataka High Court, emphasizing the promotion of industrialization. The court rejected the Revenue's arguments based on a different case and Circulars issued by the CBDT, finding them irrelevant. The appeal was allowed, setting aside the Tribunal's judgment without costs. en-us Tue, 14 Mar 2017 00:00:00 +0530 Wed, 12 Apr 2017 06:45:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341541 The court allowed the Assessee's appeal, permitting the carry forward of additional depreciation to the subsequent year when the asset was used for less than 180 days in the previous year. The court relied on Section 32(1)(iia) of the Income Tax Act and the interpretation by the Karnataka High Court, emphasizing the promotion of industrialization. The court rejected the Revenue's arguments based on a different case and Circulars issued by the CBDT, finding them irrelevant. The appeal was allowed, setting aside the Tribunal's judgment without costs. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341541