70% Max Depreciation Allowed on Imported Second-Hand Machines: CESTAT Kolkata

India Potteries Ltd. Vs Commissioner of Customs (CESTAT Kolkata) Introduction: The case of India Potteries Ltd. vs. Commissioner of Customs, as adjudicated by the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Kolkata, revolves around the determination of the maximum allowable depreciation on imported second-hand machinery. This article provides a detailed analysis of the case and its implications. Detailed Analysis: Background of the Case: In 2010, India Potteries Ltd. imported a second-hand machinery, specifically a “NETZSCH, DE-AIRING PUGMILL MODEL V35 COMPLETE WITH NECE...