THE ACIT, ERNAKULAM vs. M/S.NITTA GELATINE INDIA LTD, COCHIN

In the result, the appeal of the Revenue in ITA No

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

section 32(1)(iia) of the Income Tax Act, 1961 is a one-time benefit to encourage industrialization and the relevant provisions have to be construed reasonably and purposively. The additional depreciation is allowed in the year of purchase and if in the year of purchase, the assessee is eligible only for 50 per cent, depreciation, the balance

THE ACIT, COCHIN vs. M/S.NITTA GELATINE INDIA LTD, COCHIN

In the result, the appeal of the Revenue in ITA No