ERNAKULAM REGIONAL COOPERATIVE MILK PRODUCERS UNIONS LTD.,KOCHI vs. ACIT, CIRCLE 1(1), KOCHI, KOCHI

In the result, the appeal by the assessee is partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S.Assessment Year : 2012-13

section 32(1) (iia), since the additional depreciation is a one-time benefit and is to be claimed only in the year in which the machinery is put to use. The assessee submitted that though additional depreciation is a one-time benefit, the relevant provisions have to be construed reasonably liberally and purposively to make the provision meaningful by relying

TAG CHEMICALS (INDIA) PRIVATE LTD,ERNAKULAM vs. ACIT CIRCLE 1(1) , TRIVANDRUM