An eligible plant & machinery purchased and put to use on 02-01-2013. Additional depreciation allowed @ 10% for AY 2013-14. Can assessee claim remaining 10% additional depreciation in AY 2014-15 ?
3 Replies
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 05 August 2014
no..... this is not possible as additional dep. is allowed only for the first year.
Neeraj
(student)
(27 Points)
Replied 05 August 2014
But read the case decided by ITAT Delhi bench
Deputy CIT vs. Cosmo Films
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 05 August 2014
i am sorry for the incorrect statement. i was just reading this decided case only where it has been decided that balance of 50% of additional dep. can be claimed next year. sorry again.
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