Additional depreciation - whether coffee, beverage and food ...

Do coffee and foodstuffs qualify as new articles under Income Tax Act sections 32(1)(iia) and 2(29BA)?

March 3, 2020

Case Laws Income Tax AT

Additional depreciation - whether coffee, beverage and food stuffs are not distinct and new articles or things within the meaning of section 32(1)(iia) & 2(29BA) - It came to that position by storing, drying of coffee, hulling, pealing, polishing, grading, colour sorting, garbling and manual grading, out-turning of garbled coffee and bulking, thereby, the same being a irreversible process, there is a change in the chemical composition of the product. Alternatively, one cannot say that the same is a 'processing'. It amounts to production and manufacture of a distinct commercial product different from original product. - AT

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Additional depreciation - whether coffee, beverage and food ...

Do coffee and foodstuffs qualify as new articles under Income Tax Act sections 32(1)(iia) and 2(29BA)?

March 3, 2020

Case Laws Income Tax AT

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