https://www.taxtmi.com/caselaws?id=280411 The Appellate Tribunal ruled in favor of the Revenue in a case concerning the eligibility of an assessee's activities in processing and exporting marine products for claiming additional depreciation under section 32(1)(iia) of the Act for the assessment year 2006-07. The Tribunal held that the processing of marine products by the assessee did not amount to production, based on a Supreme Court precedent, and thus denied the additional depreciation claim. Consequently, the Tribunal allowed the Revenue's appeal, overturning the decision of the Ld. CIT(A) on the matter of claiming additional depreciation for manufacturing or production activities. en-us Fri, 27 Apr 2012 00:00:00 +0530 Sat, 04 May 2019 10:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280411 The Appellate Tribunal ruled in favor of the Revenue in a case concerning the eligibility of an assessee's activities in processing and exporting marine products for claiming additional depreciation under section 32(1)(iia) of the Act for the assessment year 2006-07. The Tribunal held that the processing of marine products by the assessee did not amount to production, based on a Supreme Court precedent, and thus denied the additional depreciation claim. Consequently, the Tribunal allowed the Revenue's appeal, overturning the decision of the Ld. CIT(A) on the matter of claiming additional depreciation for manufacturing or production activities. Case-Laws Income Tax Fri, 27 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280411