2009 (9) TMI 35

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....M KALIFULLA, J. - The Revenue has come forward with this appeal, raising the following substantial questions of law: "(i) Whether on the facts and circumstances of the case, the Tribunal was right in allowing the claim of additional depreciation on windmill u/s 32(1)(iia)? (ii) Whether on the facts and circumstances of the case, the Tribunal was right in holding that generation of power by w....

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....manufacture of textile goods, which is the power industry and therefore, the assessee was not entitled to claim the additional depreciation as allowed under Section 32(1)(iia) of the Act. 3. We are not in a position to appreciate either of the contentions of the learned counsel for the petitioner. As far as the first contention is concerned, when the Tribunal by the impugned order has applied S....

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....ncerned, the assessment year pertains to 2005-2006. The provision, which is relevant for our purpose, reads as under: (iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2002, by an assessee engaged in the business of manufacture or production of any article or thing, a further sum equal to fifteen p....

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....ar as application of Section 32(1)(iia) of the Act, is concerned, what is required to be satisfied in order to claim the additional depreciation is that the setting up of a new machinery or plant should have been acquired and installed after 31st March 2002 by an assessee, who was already engaged in the business of manufacture or production of any article or thing. The said provision does not stat....