https://www.taxtmi.com/caselaws?id=472547 Revision under section 263 requires both an erroneous assessment order and prejudice to the Revenue. Where the entire deduction under section 80-IA has already been disallowed, an alleged excess computation of that deduction cannot independently establish either requirement. Additional depreciation is available on new plant or machinery used for manufacture or production of an article or thing. Production has a wider scope than manufacture and includes bringing an article or thing into existence through human effort. Electricity generated through new captive and wind power plants constitutes production, supporting additional depreciation where the machinery and plant are new. en-us Fri, 28 Feb 2014 00:00:00 +0530 Thu, 15 Oct 2026 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472547 Revision under section 263 requires both an erroneous assessment order and prejudice to the Revenue. Where the entire deduction under section 80-IA has already been disallowed, an alleged excess computation of that deduction cannot independently establish either requirement. Additional depreciation is available on new plant or machinery used for manufacture or production of an article or thing. Production has a wider scope than manufacture and includes bringing an article or thing into existence through human effort. Electricity generated through new captive and wind power plants constitutes production, supporting additional depreciation where the machinery and plant are new. Case-Laws Income Tax Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472547