Wednesday, 20 January 2016

No additional depreciation if manufactured goods were captively consumed for construction activity

IT: Production of prefabricated piles which were going to be used by assessee in its business of piling, would form part of construction activity irrespective of fact whether such piles were constructed at project site or at some other place with help of machinery; it did not involve production or manufacture of an article or thing entitling assessee to additional depreciation on said machinery

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