https://www.taxtmi.com/caselaws?id=193829 The High Court upheld the Tribunal's decision allowing the assessee to claim additional depreciation for electricity generation through windmills as a separate business line, independent of their primary gold mining business. The Court determined that electricity qualifies as a tradable product under the Sale of Goods Act, making the assessee eligible for the claimed depreciation, regardless of its use in core business activities. The Court did not delve into the specific interpretation of the Income Tax Act provision but affirmed the assessee's right to additional depreciation for windmill power generation, indicating potential future clarifications on tax provisions in similar scenarios. en-us Tue, 16 Sep 2014 00:00:00 +0530 Mon, 21 Aug 2017 08:10:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193829 The High Court upheld the Tribunal's decision allowing the assessee to claim additional depreciation for electricity generation through windmills as a separate business line, independent of their primary gold mining business. The Court determined that electricity qualifies as a tradable product under the Sale of Goods Act, making the assessee eligible for the claimed depreciation, regardless of its use in core business activities. The Court did not delve into the specific interpretation of the Income Tax Act provision but affirmed the assessee's right to additional depreciation for windmill power generation, indicating potential future clarifications on tax provisions in similar scenarios. Case-Laws Income Tax Tue, 16 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193829