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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Additional depreciation - Section 32 as amended vide FA, 2012, ...


Finance Act 2012: Section 32 Amendment Allows Power Generators to Claim Extra Depreciation for New Equipment Investments.

August 14, 2019

Case Laws     Income Tax     HC

Additional depreciation - Section 32 as amended vide FA, 2012, the assessee engaged in the generation of power has expressly been included in the ambit thereof - condition to claim additional depreciation, is that the setting up of new machinery or plant should have been acquired and installed by an assessee, who was already engaged in the business of manufacture or production of any article or thing - allowable

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