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Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Additional depreciation on the plant and machinery - 50% of the ...


Entitlement to Remaining 50% Additional Depreciation on Plant and Machinery in Subsequent Year Confirmed.

November 12, 2023

Case Laws     Income Tax     AT

Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional 50% depreciation in the assessment year which follows the assessment year in which the machinery had been bought and put to use for less than 180 days - AT

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