Addl. depreciation u/s 32(1)(iia) - eligibility on windmill

This query is : Resolved

MANIAN and RAO (Querist)
Follow

04 August 2008 A company manufacturing certain products also owned windmills. It put up an addl. windmill in the P.Y relevant to A.Y 2003-04. Electricity generated is both captively used by it and sold to Electricity Board. With increase in installed capacity of its manufactured products by more than 20% over last year, it claimed additional depreciation u/s 32(1)(iia) on all new eligible assets including windmill. A.O disallowed such claim on windmill for reasons below:

1) Electricity produced is not an “article or thing” as contemplated in Sec. 32(1)(iia)
2) Even if so, electricity has been captively used
3) There is no installed capacity for windmill.

Is A.O’s stand tenable?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

05 August 2008 AO's contention is correct on serial no 1.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

05 August 2008 AO's contention is correct on serial no 1.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

05 August 2008 AO's contention is correct on serial no 1.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

deepak

Sasidhar B

Aniruddha Mody

Vinod Patil

THOMAS JOHN

Subscribe Now

Addl. depreciation u/s 32(1)(iia) - eligibility on windmill

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Article Assistant

GST CONSULTANCY

CA Final