26 September 2012
Dear all, Based on the provisions of Section 32(iia) of the Income Tax Act which allows for higher depreciation allowance under certain circumstances for machinery or plant acquired or installed after 01.04.2005 in the business of manufacture of a article or thing. My Client is manufacturer of Ready Mix Concrete. Nature of activity is purchase of sand and metal and cement and flyash and then mix these things through machinery and then supply to the customers. Whether my client is eligible for additional depreciation or not. It most urgent and clarfy the same as soon as possible. S.Mohan Audit Assistant
CAclubindia
