Additional depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2016 Mr A has purchased a machinery on 05/12/2014 and claimed additional depreciation at 10% in F.Y 2014-15.
As per the amendments, balance 50% additional depreciation can be claimed in next f.y.
This amendment is applicable from 01st April, 2016 and relates to A.Y 2016-17.

Whether Mr A can claim balance 10% additional depreciation of machinery purchased on 05/12/2014 in F.Y 2015-16, considering the date of applicability of amendment ?

If Yes, Are there any case laws regarding this issue ?

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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02 May 2016 The applicable FY in your case is FY2015-16 and not FY2014-15 for purchase of new machinery on 05-12-2015. As per the second proviso to section 32(1)(ii), the balance 10% can be claimed during FY2016-17. When section itself is very clear, what is the necessary to refer a case law?