Depreciation-Initial depreciation under sec. 32(1)(iv) and investment allowance under sec. 32A of the Income-tax Act, 1961-Definition of "small scale industrial undertaking"- Clarification regarding

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....me-tax Act, 1961-Definition of "small scale industrial undertaking"- Clarification regarding Circular No. 314 Dated 17/9/1981 To             All Commissioners of Income-tax. Subject:  Depreciation-Initial depreciation under sec. 32(1)(iv) and investment allowance under sec. 32A of the Income-tax Act, 1961-Definition of "sma....

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....s Explanation includes all machinery and plant to arrive at the monetary ceiling or whether the ceiling should be determined according to the norms laid down by the Department of Industries in this regard. According to the Department of Industries, the cost of generating sets and of extra transformers, etc., which have to be installed by the assessee as required by the State Electricity Boards wil....

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....e of ascertaining whether the assessee is a "small scale industrial undertaking". 4. The above clarification will apply, mutatis mutandis, in the case of "initial depreciation" under section 32(1)(vi). However, the definition of "small scale industrial undertaking" for the purpose of initial depreciation given in Explanation (3) to section 32(1)(vi) is slightly different from that given for the....