https://www.taxtmi.com/highlights?id=56437 Disallowance on additional deprecation claimed as plant and machinery other than milk can equipments - The extra depreciation allowable u/s 32{1) (iia) in an extra incentive which has been earned and calculated in the year of acquisition but restricted for that year to 50% on account of usage. The so earned incentive must be made available in the subsequent year. The overall deduction of depreciation u/s 32 shall definitely not exceed the total cost of plant machinery. In view of this matter, we set aside the orders of the authorities below and direct to extend the benefit.- AT en-us Fri, 22 Jan 2021 11:31:01 +0530 Fri, 22 Jan 2021 11:31:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56437 Disallowance on additional deprecation claimed as plant and machinery other than milk can equipments - The extra depreciation allowable u/s 32{1) (iia) in an extra incentive which has been earned and calculated in the year of acquisition but restricted for that year to 50% on account of usage. The so earned incentive must be made available in the subsequent year. The overall deduction of depreciation u/s 32 shall definitely not exceed the total cost of plant machinery. In view of this matter, we set aside the orders of the authorities below and direct to extend the benefit.- AT Highlights Income Tax Fri, 22 Jan 2021 11:31:01 +0530 https://www.taxtmi.com/highlights?id=56437