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| The Tax Publishers2020 TaxPub(DT) 0200 (Kol-Trib) INCOME TAX ACT, 1961
Section 32(1)(iia)
Electricity falls within the definition of 'goods' and, therefore, process of generation of electricity was akin to manufacture of article or thing and, therefore, assessee was entitled for additional depreciation under section 32(1)(iia) on plant and machinery installed in windmills.
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Depreciation - Additional depreciation - Allowability in case of assessee engaged in generation of electricity -
Assessee engaged in generation of electricity claimed additional depreciation under section 32(1)(iia) on plant and machinery installed in windmills. AO denied assessee's claim on the ground that process of generation of electricity was not akin to manufacture of 'article' or 'thing'.Held: Electricity falls within the definition of 'goods' and, therefore, process of generation of electricity was akin to manufacture of article or thing and, therefore assessee was entitled for additional depreciation under section 32(1)(iia) on plant and machinery installed in windmills.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
INCOME TAX ACT, 1961
Section 14A(2)
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