Court Rules on Additional Depreciation for Plant and Machinery u/s 32(1)(iia); Extends Benefit to Subsequent Year.

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....Disallowance on additional deprecation claimed as plant and machinery other than milk can equipments - The extra depreciation allowable u/s 32{1) (iia) in an extra incentive which has been earned and calculated in the year of acquisition but restricted for that year to 50% on account of usage. The so earned incentive must be made available in the subsequent year. The overall deduction of depreciation u/s 32 shall definitely not exceed the total cost of plant machinery. In view of this matter, we set aside the orders of the authorities below and direct to extend the benefit.- AT....