An assessee is engaged in the business of refining lubricating oil. Whether additional depreciation is allowed in case of purchase of machinery that is used for refining lubrication oil?
2 Replies
MD.Taufique
(CA,CS)
(308 Points)
Replied 20 August 2011
I don't think additional dep would be allowed as it is allowed only to persons engage in manufacturing business.wait for others too
CA Kumar Mukesh
(CA CMA FINAL and Advance Excel Trainer)
(6881 Points)
Replied 20 August 2011
Yes he can avail additional dep because requirement is using in Manufacturing process not reuired manufacturing busines
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