DEMPO INDUSTRIES PRIVATE LIMITED,PANAJI vs. INCOME TAX OFFICER, WARD -1(2), PANAJI
The appeal of the assessee is ALLOWED in above terms
ITA 131/PAN/2019[2010-11]Status: DisposedITAT Panaji01 Sept 2023AY 2010-11
Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshali(Through Virtual Hearing At Pune) आयकर अपील सं. / Ita No. 131/Pan/2019 धििाारण वर्ा / Assessment Year : 2010-11 Dempo Industries Pvt. Ltd., Dempo House, Campal, Panaji, Goa - 403001 Pan: Aaacu1745F . . . . . . . अपीलार्थी / Appellant
For Appellant: Ms Rucha VaidyaFor Respondent: Mr Prabhakar Anand DJ
Section 139Section 143(3)Section 246A(1)Section 250Section 253(1)(a)Section 263Section 32(1)(iia)
section 32(1) unambiguously prescribes that new plant or machinery acquired and installed after 31st March, 2005 subject to 2nd proviso are eligible for additional depreciation. Presently we are not concerned with 2nd proviso which disentitles the additional depreciation under four bullet circumstances. Once the assessee establishes on record that new plant or machinery is acquired and installed after aforestated
