Additional depreciation on windmill

This query is : Resolved 

12 May 2012 Sir,
Is there any Supream Court judgement available for allowing the additional depreciation on Windmill???

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 May 2012 I have asked 2 times regarding SAIL examination....but nobody repled...what happened with seniors..?
Please tell me how to prepare for management trainee finance examination

13 May 2012 @Biren:
if the windmill is used for manufacture purpose u can claim additional depreciation

Ref:
as per 43(1) ''Cost includes Installation and Erection Charges Loading and Unloading Chargres Freight and Interest on Loan taken upto the date of usage of asset''

If u hav any further doubts pls let me knw.

Regards:
CA Piyush Goplani
ca.goplanipiyush@gmail.com
http://taxeknowledge.blogspot.com


04 July 2012 Even if the windmill is NOT used for manufacturing, additional depreciation shall be admissible.

Please refer CIT v. VTM Limited (2009) 319 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 machinery should be purchased & installed after 31.03.2005.

The provision does not state that the new plant or machinery should have operational connectivity with the article or thing being manufactured by the assessee.



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