The Tax Publishers2020 TaxPub(DT) 4645 (Mad-HC)

INCOME TAX ACT, 1961

Section 32(1)(iia)

Additional depreciation under section 32(1)(iia) can be allowed in the next year in case the same could not be allowed in the earlier year.

Depreciation - Additional depreciation - Carry forward of balance additional depreciation to following years -

Revenue filed appeal against the order of Tribunal holding that additional depreciation can be allowed in the next year in case the same could not be allowed in the earlier year. Held: Substantial questions of law raised for consideration have been answered against the revenue in CIT v. Aztec Auto (P.) Ltd. [(2020) 119 Taxmann.com 215 (Mad-HC) : 2020 TaxPub(DT) 3748 (Mad-HC)] . Thus, following the above decision, the present Tax Case Appeal was dismissed and the substantial questions of law are answered against the revenue.

Followed:CIT v. Aztec Auto (P.) Ltd. [(2020) 119 Taxmann.com 215 (Mad-HC) : 2020 TaxPub(DT) 3748 (Mad-HC)].

REFERRED :

FAVOUR : In favour of assessee.

A.Y. : 2014-15

IN THE MADRAS HIGH COURT

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