https://www.taxtmi.com/caselaws?id=445610 The ITAT Ahmedabad allowed the assessee's appeal on three depreciation issues. First, the tribunal permitted claiming the remaining 50% additional depreciation in AY 2015-16 for plant and machinery purchased and used less than 180 days in AY 2014-15, following precedent that earned incentive must be available in subsequent years. Second, the tribunal held that milk processing involving technical machinery and manufacturing various milk products constitutes manufacturing, not mere processing, entitling the assessee to additional depreciation. Third, electrical equipment including substations, DG sets, transformers, and exhaust fans were deemed integral parts of plant and machinery rather than electrical fittings, qualifying for higher depreciation rates applicable to plant and machinery. en-us Wed, 08 Nov 2023 00:00:00 +0530 Fri, 10 Nov 2023 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445610 The ITAT Ahmedabad allowed the assessee's appeal on three depreciation issues. First, the tribunal permitted claiming the remaining 50% additional depreciation in AY 2015-16 for plant and machinery purchased and used less than 180 days in AY 2014-15, following precedent that earned incentive must be available in subsequent years. Second, the tribunal held that milk processing involving technical machinery and manufacturing various milk products constitutes manufacturing, not mere processing, entitling the assessee to additional depreciation. Third, electrical equipment including substations, DG sets, transformers, and exhaust fans were deemed integral parts of plant and machinery rather than electrical fittings, qualifying for higher depreciation rates applicable to plant and machinery. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445610