https://www.taxtmi.com/caselaws?id=276300 Additional depreciation under section 10(2)(via) of the Indian Income-tax Act, 1922 was treated as a relief provision requiring strict construction. The benefit was held available only where new plant or machinery was installed for the first time in the business whose profits were assessed under the Act. Because the ships had already been brought into use in the assessee's general shipping business and were not part of the taxable computation when new, the statutory conditions were not met in the first year the allowance was claimed. The claim for additional depreciation was therefore disallowed. en-us Tue, 11 Feb 1964 00:00:00 +0530 Mon, 05 Nov 2018 16:04:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276300 Additional depreciation under section 10(2)(via) of the Indian Income-tax Act, 1922 was treated as a relief provision requiring strict construction. The benefit was held available only where new plant or machinery was installed for the first time in the business whose profits were assessed under the Act. Because the ships had already been brought into use in the assessee's general shipping business and were not part of the taxable computation when new, the statutory conditions were not met in the first year the allowance was claimed. The claim for additional depreciation was therefore disallowed. Case-Laws Income Tax Tue, 11 Feb 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276300