https://www.taxtmi.com/caselaws?id=385838 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow the firm engaged in the production of aggregate to claim additional depreciation under Section 32(i)(iia) of the Income Tax Act. The Tribunal determined that the assessee's activities constituted manufacturing and production of a distinct article, justifying the allowance of additional depreciation on the plant and machinery used for production. The appeal by the Revenue was dismissed, emphasizing the significance of the nature of the assessee's activities in determining eligibility for tax benefits. en-us Wed, 08 May 2019 00:00:00 +0530 Sat, 14 Sep 2019 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385838 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow the firm engaged in the production of aggregate to claim additional depreciation under Section 32(i)(iia) of the Income Tax Act. The Tribunal determined that the assessee's activities constituted manufacturing and production of a distinct article, justifying the allowance of additional depreciation on the plant and machinery used for production. The appeal by the Revenue was dismissed, emphasizing the significance of the nature of the assessee's activities in determining eligibility for tax benefits. Case-Laws Income Tax Wed, 08 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385838