https://www.taxtmi.com/caselaws?id=421173 Whether plant and machinery forming an integral part of a co-generation/power generation unit qualified for depreciation at 80% was decided by applying the principle that items which cannot function standalone and operate only as part of the integrated cogeneration system are eligible for the higher rate; following co-ordinate Bench precedent, the disallowance was rejected and the revenue's ground failed. Whether additional depreciation under s. 32(1)(iia) was allowable was decided on the basis that the statutory conditions were admittedly satisfied and the assessee was engaged in manufacture/production, and, per HC authority, no operational nexus is required between the new machinery and the existing manufactured product; the claim was upheld and the revenue's appeal was dismissed. en-us Mon, 21 Mar 2022 00:00:00 +0530 Sat, 27 Dec 2025 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421173 Whether plant and machinery forming an integral part of a co-generation/power generation unit qualified for depreciation at 80% was decided by applying the principle that items which cannot function standalone and operate only as part of the integrated cogeneration system are eligible for the higher rate; following co-ordinate Bench precedent, the disallowance was rejected and the revenue's ground failed. Whether additional depreciation under s. 32(1)(iia) was allowable was decided on the basis that the statutory conditions were admittedly satisfied and the assessee was engaged in manufacture/production, and, per HC authority, no operational nexus is required between the new machinery and the existing manufactured product; the claim was upheld and the revenue's appeal was dismissed. Case-Laws Income Tax Mon, 21 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421173