30 September 2009
Is additional depreciation on windmill available? If yes, then give specific section with details. Is any case law regarding this matter? Then please give us whether available additional depreciation or not.
04 July 2012
Please refer Section 32(1)(iia) and case law of CIT v. VTM Limited (2009) 316 ITR 336 (Mad.) wherein it was held that to claim the benfit u/s 32(1)(iia) what is required to be satisfied is that the new plant or machinery should have been purchased after 31 March, 2005 by an assessee already engaged in the manufacture or production of an article or thing.
The provision does not require that the new plant or machinery should have operational connectivity with the article or thing being manufactured or produced.
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