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Depreciation on windmill to purchaser

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(Querist)
10 February 2012 I want to know whether depreciation will be available to purchaser of wind mill at rate of 80% from already established wind mill player?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
04 July 2012 1. Yes depreciation will be admissible.
2. However, you should ensure that the windmill is recorded at the fair market value.
3. Further you can also claim additional depreciation if the assessee is engaged in manufacture or production of any article or thing.
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