Additional Depreciation - (New) Section 33(8) / Section 32(1)(iia)

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....reciation for any new machinery or plant shall be allowed if ALL conditions met: • The assessee is engaged in Business of • Manufacturing/production of any article or thing OR • Power sector • Asset: • Must be acquired and install the new machinery/plant • Must be put to use for the purpose of business ....

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....Assessee who is engaged in business of production/manufacture of any article or thing or generation, transmission or distribution of power are only eligible for additional depreciation. Depreciation is allowed in the case of any new machinery or plant other than ships and aircraft @ 20% of actual cost. Provided that no deduction shall be allowed in respect of- • any second ....

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....hen additional depreciation would be 10% of the cost of acquisition in the first year and the balance 10% would be available in the immediately succeeding previous year.  Additional depreciation in the case of generation or generation and distribution of power Additional depreciation is allowed only if assessee follow WDV method. it is not allowed to power generating units if ....