https://www.taxtmi.com/caselaws?id=342126 The tribunal upheld the legality of the rectification order under section 154 of the Income Tax Act, 1961, and allowed the appellant's claim for additional depreciation at 20% of the actual cost of machinery as per section 32(1)(iia). The appellant's appeal was dismissed on the grounds related to the rectification order but was successful in securing the additional depreciation claim based on statutory provisions and a precedent from the Hon'ble Gujarat High Court. The decision emphasized compliance with conditions for claiming additional depreciation to promote investments in plant and machinery. en-us Fri, 21 Apr 2017 00:00:00 +0530 Thu, 27 Apr 2017 06:55:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342126 The tribunal upheld the legality of the rectification order under section 154 of the Income Tax Act, 1961, and allowed the appellant's claim for additional depreciation at 20% of the actual cost of machinery as per section 32(1)(iia). The appellant's appeal was dismissed on the grounds related to the rectification order but was successful in securing the additional depreciation claim based on statutory provisions and a precedent from the Hon'ble Gujarat High Court. The decision emphasized compliance with conditions for claiming additional depreciation to promote investments in plant and machinery. Case-Laws Income Tax Fri, 21 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342126