https://www.taxtmi.com/caselaws?id=422806 The court ruled in favor of the appellant in a Tax Case Appeal regarding the disallowance of additional depreciation on a windmill under Section 32(1)(iia) of the Income Tax Act. The court held that the appellant, engaged in the textile business, was entitled to claim additional depreciation for the windmill installation as it was acquired and installed after the specified date. The Tribunal's decision to disallow the claim was set aside, and the matter was remanded to the assessing officer for re-computation, directing to allow the appellant's claim for additional depreciation. en-us Mon, 04 Apr 2022 00:00:00 +0530 Mon, 23 May 2022 08:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422806 The court ruled in favor of the appellant in a Tax Case Appeal regarding the disallowance of additional depreciation on a windmill under Section 32(1)(iia) of the Income Tax Act. The court held that the appellant, engaged in the textile business, was entitled to claim additional depreciation for the windmill installation as it was acquired and installed after the specified date. The Tribunal's decision to disallow the claim was set aside, and the matter was remanded to the assessing officer for re-computation, directing to allow the appellant's claim for additional depreciation. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422806