DCIT v. Cosmo Films Ltd.
139 ITD 628Income Tax Appellate Tribunal2012#2420 most cited
What is DCIT v. Cosmo Films Ltd. authority for?
The balance 50% of additional depreciation, for new machinery or plant put to use for less than 180 days in the year of acquisition, is allowable in the immediately succeeding assessment year. The second proviso to Section 32(1)(iia) restricts only the allowance for the first year, not the total benefit.
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judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2024.
Also referred to as
DCIT v. Cosmo Films Ltd. · 139 ITD 628 · Section 32(1)(iia) · additional depreciation · balance 50% additional depreciation · less than 180 days use · subsequent year allowance · spillover depreciation · second proviso to Section 32(1)(iia)
Also reported as
24 Taxmann 189124 Taxmann.com 189
