Pranav Tibrewal (Chartered Accountant) (282 Points)
09 July 2009Is additional depreciation allow to power unit if they has not followed special rates for depreciation?
Means company has other line of business and maintain power unit asset as block system with normal rate with other line of business.
CA CS Bhumika Thakkar
(CA,CS)
(1618 Points)
Replied 09 July 2009
no..it is only available 2 a manufacturer..n d dend product shd hav a diff name,purpose n use..power unit wont get..
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 10 July 2009
Mr.Pranav Tiberwal
Mr.Tinku
Ms.Bhumika
Power generation unit is certainly a manufacturing unit. Hydel Power Generating unit generates power using water, Bio-mass Power generating unit generates power by using bio-waste and like that. The final product "power" is different from "water" or "bio-waste" . Hope you have got clarification regarding the definition of " manufacture" as per latest amendment proposed in the Finance Bill.
Best Wishes
Sathikonda
PARV
(TAX ASSISTANT.)
(202 Points)
Replied 18 October 2014
CAclubindia
