Additional depreciation
Raunak Vora (article) (86 Points)
18 August 2014
is additional depreciation given on weighbridge installed inside the factory ?
4 Replies
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 19 August 2014
Dear Vora,
According to condition of section 32 additional depriciation is only available on New Plant and Machinery acquired for production of any article or thing in factory.
Weighbridge: if installed in factory can be consider as plant & machinery and hence you can claim addition depriciation on the same at 20%.
But there may be different view on this so, go with case laws if any available
Raunak Vora
(article)
(86 Points)
Replied 19 August 2014
Dear manoj sir,
I have referred to a case in which it was said - computer if used inside the factory was elligible for additional depr.
So going by the words i think qeigh bridge should also be elligible
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 19 August 2014
Dear Vora,
According to my experience weighbridge will be classified Under Plant & machinery and hence it should be considered for additional dep.
Regards
Pratiksha Dhaker
(CA FINAL)
(97 Points)
Replied 22 August 2014
Additional Depreciation will be allowed on WeighBridge.
Same view as of Manoj sir.
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