https://www.taxtmi.com/highlights?id=67881 Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12. The balance 10% of additional depreciation was claimed in the year under consideration - additional depreciation allowed u/s.32(1)(iia) of the Act is a one-time benefit to encourage industrialisation, and the provisions related to it have to be construed reasonably, liberally and purposively, to make the provision meaningful while granting the additional allowance. - AT en-us Tue, 24 Jan 2023 10:12:33 +0530 Tue, 24 Jan 2023 10:12:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67881 Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12. The balance 10% of additional depreciation was claimed in the year under consideration - additional depreciation allowed u/s.32(1)(iia) of the Act is a one-time benefit to encourage industrialisation, and the provisions related to it have to be construed reasonably, liberally and purposively, to make the provision meaningful while granting the additional allowance. - AT Highlights Income Tax Tue, 24 Jan 2023 10:12:33 +0530 https://www.taxtmi.com/highlights?id=67881