https://www.taxtmi.com/caselaws?id=420432 The Tribunal upheld the Principal Commissioner of Income-tax's order under Section 263, ruling that the company, engaged solely in electricity distribution, was not eligible for additional depreciation under Section 32(1)(iia) for the assessment year 2015-16. The Tribunal determined that the legislative amendments did not allow for retrospective application, emphasizing that the benefit was only extended to companies involved in power generation or generation and distribution, not distribution alone. en-us Wed, 30 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 08:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420432 The Tribunal upheld the Principal Commissioner of Income-tax's order under Section 263, ruling that the company, engaged solely in electricity distribution, was not eligible for additional depreciation under Section 32(1)(iia) for the assessment year 2015-16. The Tribunal determined that the legislative amendments did not allow for retrospective application, emphasizing that the benefit was only extended to companies involved in power generation or generation and distribution, not distribution alone. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420432