Additional depreciation on windmill
This query is : Resolved
12 May 2012
Sir,
Is there any Supream Court judgement available for allowing the additional depreciation on Windmill???
Is there any Supream Court judgement available for allowing the additional depreciation on Windmill???
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2012
I have asked 2 times regarding SAIL examination....but nobody repled...what happened with seniors..?
Please tell me how to prepare for management trainee finance examination
Please tell me how to prepare for management trainee finance examination
13 May 2012
@Biren:
if the windmill is used for manufacture purpose u can claim additional depreciation
Ref:
as per 43(1) ''Cost includes Installation and Erection Charges Loading and Unloading Chargres Freight and Interest on Loan taken upto the date of usage of asset''
If u hav any further doubts pls let me knw.
Regards:
CA Piyush Goplani
ca.goplanipiyush@gmail.com
https://taxeknowledge.blogspot.com
if the windmill is used for manufacture purpose u can claim additional depreciation
Ref:
as per 43(1) ''Cost includes Installation and Erection Charges Loading and Unloading Chargres Freight and Interest on Loan taken upto the date of usage of asset''
If u hav any further doubts pls let me knw.
Regards:
CA Piyush Goplani
ca.goplanipiyush@gmail.com
https://taxeknowledge.blogspot.com
04 July 2012
Even if the windmill is NOT used for manufacturing, additional depreciation shall be admissible.
Please refer CIT v. VTM Limited (2009) 319 ITR 336 (Mad.) wherein it was held that to claim the benfit u/s 32(1)(iia) what is required to be satisfied is that the new machinery should be purchased & installed after 31.03.2005.
The provision does not state that the new plant or machinery should have operational connectivity with the article or thing being manufactured by the assessee.
Please refer CIT v. VTM Limited (2009) 319 ITR 336 (Mad.) wherein it was held that to claim the benfit u/s 32(1)(iia) what is required to be satisfied is that the new machinery should be purchased & installed after 31.03.2005.
The provision does not state that the new plant or machinery should have operational connectivity with the article or thing being manufactured by the assessee.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Average Cost Of High Quality Diamonds
- ITR-3 File/Error Found
- Due Date Clarity
- Accounting with Claude
- Banking Related Issue
- Taxability of credit in canara bank ET & T section (NRO)
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
