Electricity is an ‘article’ or ‘thing’ & additional depreciation eligible

Pr. CIT Vs. NTPC Sail Power Co. Pvt. Ltd. (Delhi High Court) Electricity has all the necessary trappings of ‘articles’ or ‘things’ and the benefit of additional depreciation cannot be denied. As held by the Constitution Bench, electricity is capable of abstraction, transmission, transfer, delivery, possession, consumption and use like any other movable property. Following the same logic, to deny the benefit of additional depreciation to a generating entity on the basis that electricity is not an “article’ or “thing’ is in our view an artificially restric...