Case Law Details
Case Name : Deputy Commissioner of Income-tax Vs Cosmo Films Ltd. (ITAT Delhi)
Related Assessment Year : 2004-05 TO 2006-07
Courts :
All ITAT ITAT Delhi
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IN THE ITAT DELHI BENCH ‘B’
Deputy Commissioner of Income-tax
V/s.
Cosmo Films Ltd.
IT APPEAL NOS. 2508 & 2831 (DELHI) OF 2007, 1449
& 1548 (DELHI) OF 2008, 4010 & 4040 (DELHI) OF 2009
AND 934 & 935 (DELHI) OF 2011
139 ITD 628 (Del)
13 ITR(T) 340 (Delhi)
[ASSESSMENT YEARS 2004-05 TO 2006-07]
AUGUST 5, 2011
ORDER
ITA Nos. 2508/Del/2007 & 2831/Del/2007
Per Bench
Both the cross appeals arise out of the order of the CIT (Appeals)-VI, New Delhi dated 15.03.2007 for the Assessment Year 2004-05.
2. The grounds of appeal taken by the revenue in ITA No....
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Dear author,
Try to quote the caption in such a manner which did not creates ambiguity among the readers. Having a bare looks to the above caption interprets that additional depreciation is allowable to the extent of 100% even if the asset is used for less than 180 days. However by going thorough the case, it held that if the asset is used for less than 180 days,then 50% of the amount of additional depreciation is allowed during the previous year of put to use of asset and remaining 50% is to be allowed in the succeeding year.
Regards,
Pankaj.