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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Depreciation on the new Turbine Generator (TG) set - extent of ...


Tribunal Approves 80% Depreciation for New Turbine Generator Set Under Income Tax Act Section 32.

May 2, 2016

Case Laws     Income Tax     HC

Depreciation on the new Turbine Generator (TG) set - extent of user is not the basis of allowing depreciation under Section 32 of the Act - Tribunal rightly allowed claim at full rate i.e. 80% by relying on the internal minutes of the meeting between the assessee and the erectors - HC

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