additional depriciation
This query is : Resolved
14 November 2009
a comany is trading in timber and it has installed sawing machines to cut timber in tradeable sizes. will co be elegible for addtional dep on the cost of sawing machines purchased by it.
14 November 2009
Conversion of tree trunks into logs could be treated as 'manufacture' in the context of investment allowance and for relief u/s 80HH and 80J as was held in Andaman and Nicobar Islands Forest and Plantations Development Corporation Ltd Vs. CIT (2006) 280 ITR 118 (CAL).
In view of the above, manufacture mentioned in section 32(1)(iia) satisfies,as per my understanding,and additional depreciation can be claimed.
In view of the above, manufacture mentioned in section 32(1)(iia) satisfies,as per my understanding,and additional depreciation can be claimed.
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