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2015 (1) TMI 1248 - KARNATAKA HIGH COURTAdditional depreciation u/s. 32(1) (iia) - Tribunal held that additional depreciation allowed u/s. 32(1) (iia) is a onetime benefit to encourage industrialization and the relevant provisions has been construed reasonably and purposive - Held that:- Following the judgment of the Division Bench in (The Commissioner of Income Tax and another Vs. M/s. Rittal India Pvt.Ltd. [2016 (1) TMI 81 - KARNATAKA HIGH COURT ] wherein held additional depreciation allowed under Section 32(i)(iia) of the Act is a one time benefit to encourage industrialization, and the provisions related to it have to be construed reasonably, liberally and purposively, to make the provision meaningful while granting additional allowance. We are in full agreement with such observations made by the Tribunal. - Decided in favour of assessee
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