https://www.taxtmi.com/caselaws?id=303085 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to allow additional depreciation for wind mills under section 32(1)(iia) of the Income Tax Act, 1961 to the trader engaged in power generation. The Tribunal dismissed the Revenue's appeals, emphasizing that the wind mills were acquired and installed before the specified date, making the assessee eligible for the additional depreciation. The Tribunal also found the decision in CIT Vs. VTM Ltd. applicable to the trader's case, supporting the allowance of additional depreciation for setting up windmills for power generation. en-us Fri, 30 Nov 2018 00:00:00 +0530 Sun, 03 Jul 2022 19:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303085 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to allow additional depreciation for wind mills under section 32(1)(iia) of the Income Tax Act, 1961 to the trader engaged in power generation. The Tribunal dismissed the Revenue's appeals, emphasizing that the wind mills were acquired and installed before the specified date, making the assessee eligible for the additional depreciation. The Tribunal also found the decision in CIT Vs. VTM Ltd. applicable to the trader's case, supporting the allowance of additional depreciation for setting up windmills for power generation. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303085