additional depreciation u/s.32(1)(iia)

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manish patel (Querist)
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17 November 2009 client purchased new machinery in the month of march 2005 and claimed additional depre @10% [i.e. 50% of rate 20% as used for less than 180 days]. again client claimed rest 10% additional depreciation in the year 2006-07 A.Y.07-08.However AO disallow such claim o the ground that additional depreciation only allowed in the year of purchase only. My question is if AO is right then client claim full rate additional dep @20% or client right in his claim to get remaining 50% rate of additional depreciation in the next year i.e. 06-07.
thanking you,
manish patel

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2009 In the situation referred above additional depreciation @ 10 % only is eligible, as per the referred section, in the year of acquisition and installation of the machinery. Subsequent years claim is not in accordance with law. So , as per my understanding, the view of the ITO is correct.

CA Deepak S

CA Deepak S (Expert)
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17 November 2009 In my opinion additional depreciation can be claimed only in the in year of acquisition of the machinery.

taxindiaconnect

taxindiaconnect (Expert)
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03 May 2010 Agreed with BC

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