https://www.taxtmi.com/caselaws?id=282535 The Tribunal allowed the additional depreciation claimed by the assessee on rolls under the head of "plant & machinery," overturning the decision of the Ld. CIT(A). The Tribunal held that rolls were part of the machinery, as evidenced by normal depreciation allowed, and therefore, qualified for additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961. The case emphasized the importance of correctly identifying eligible assets for depreciation benefits and the role of statutory provisions and circulars in clarifying claim conditions. en-us Wed, 26 Feb 2014 00:00:00 +0530 Tue, 13 Aug 2019 11:05:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282535 The Tribunal allowed the additional depreciation claimed by the assessee on rolls under the head of "plant & machinery," overturning the decision of the Ld. CIT(A). The Tribunal held that rolls were part of the machinery, as evidenced by normal depreciation allowed, and therefore, qualified for additional depreciation under Section 32(1)(iia) of the Income-tax Act, 1961. The case emphasized the importance of correctly identifying eligible assets for depreciation benefits and the role of statutory provisions and circulars in clarifying claim conditions. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282535