Criteria for claiming 100% depreciation on assets, under the Income Tax Act

Last updated: 08 June 2021
Quick Summary
This Income Tax Appellate Tribunal ruling addresses a company's claim for 100% depreciation on a windmill. The revenue authority argued that the windmill was not used for the required 180 days in the financial year, making the full depreciation claim invalid. The tribunal reviewed evidence presented by the assessee regarding the windmill's usage during the assessment period.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment year [AY in short] 2012-13 contest the order of Ld. Commissioner of Income Tax (Appeals)-10, Mumbai [in short CIT(A) ] dated 31/05/2019 which has invalidated the reassessment proceedings as initiated by Ld. AO for the year under consideration.

Citation :
I.T.A. No.5227/Mum/2019

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