Is the rate of depreciation on new purchases and second hand purchases the same?

Last updated: 19 May 2021
Quick Summary
This case concerns the depreciation rate for windmills purchased and installed by a company. The assessee claimed an 80% depreciation rate on used windmills installed before April 1, 2012, based on pre-amended tax rules. However, the Assessing Officer reduced this to 15%, arguing that only windmills installed after April 1, 2012, were eligible for the lower rate, and denied the higher depreciation claimed.

Court :
ITAT Chennai

Brief :
This appeal filed by the assessee is directed against the order of the learned CIT(A)-1, Coimbatore dated 21.01.2019 and pertains to assessment year 2015-16.

Citation :
I.T.A.No.581/Chny/2019

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