additional depreciation

b.srinivasan (Assistant Company Secretary)   (51 Points)

18 July 2009  

It is well aware that u/s 32 of Income tax Act, an additional depreciation of 20% is allowed. The law also says that if in the year of addition of machinery in any year is less than 180 days, the additional depreciation is restricted to 10%. Such additional depreciation is also available only in the year of addition. But I reliably learnt that the balance of 10% of the additional depreciation can be claimed in the following year also. Can any one clarify whether it is correct with substanciation of law or any case law to be relied upon.

B.Srinivasan