https://www.taxtmi.com/caselaws?id=292849 The tribunal allowed the appeal of the assessee, overturning the Commissioner of Income Tax (Appeals) order. The disallowance of additional depreciation claimed under Section 32(1)(iia) was reversed based on the finding that the conversion of natural gas into CNG constituted manufacturing activities. The tribunal's decision was influenced by the judgment of the High Court of Allahabad in a similar case. As a result, the penalty proceedings under Section 271(1)(c) were likely impacted, and the appeal was decided in favor of the assessee. en-us Sun, 05 Jan 2020 00:00:00 +0530 Sat, 09 Jan 2021 20:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292849 The tribunal allowed the appeal of the assessee, overturning the Commissioner of Income Tax (Appeals) order. The disallowance of additional depreciation claimed under Section 32(1)(iia) was reversed based on the finding that the conversion of natural gas into CNG constituted manufacturing activities. The tribunal's decision was influenced by the judgment of the High Court of Allahabad in a similar case. As a result, the penalty proceedings under Section 271(1)(c) were likely impacted, and the appeal was decided in favor of the assessee. Case-Laws Income Tax Sun, 05 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292849