Carry forward of additional depreciation - Asset put to use for ...

Additional Depreciation for Plant and Machinery Under 180 Days Can Be Carried Forward: Clause (iia) Explained.

August 25, 2022

Case Laws Income Tax AT

Carry forward of additional depreciation - Asset put to use for less than 180 days - if plant and machinery is put to use for less than 180 days in the said financial year. This would necessarily mean that the balance 10% additional deduction can be availed in the subsequent assessment year, otherwise the very purpose of insertion of Clause (iia) would be defeated because it provides for 20% deduction which shall be allowed. - AT

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Carry forward of additional depreciation - Asset put to use for ...

Additional Depreciation for Plant and Machinery Under 180 Days Can Be Carried Forward: Clause (iia) Explained.

August 25, 2022

Case Laws Income Tax AT

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