https://www.taxtmi.com/caselaws?id=294150 The case involved the disallowance of additional depreciation under section 32(1)(iia) for wind mills. The Revenue challenged the eligibility of the assessee, engaged in PET bottle manufacturing, for this depreciation due to its primary business not being electricity generation. The CIT(A) and Tribunal relied on judicial precedents, particularly the jurisdictional High Court's decisions, to support the assessee's entitlement to additional depreciation based on increased power generation capacity. The Tribunal dismissed the Revenue's appeal, affirming the allowance of additional depreciation on wind mills for the assessee. en-us Tue, 18 Apr 2017 00:00:00 +0530 Wed, 24 Mar 2021 09:08:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294150 The case involved the disallowance of additional depreciation under section 32(1)(iia) for wind mills. The Revenue challenged the eligibility of the assessee, engaged in PET bottle manufacturing, for this depreciation due to its primary business not being electricity generation. The CIT(A) and Tribunal relied on judicial precedents, particularly the jurisdictional High Court's decisions, to support the assessee's entitlement to additional depreciation based on increased power generation capacity. The Tribunal dismissed the Revenue's appeal, affirming the allowance of additional depreciation on wind mills for the assessee. Case-Laws Income Tax Tue, 18 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294150