Additional machine for carrying out freeze-drying process entitled to enhanced depreciation

Accelerated Freeze Drying Co. Ltd. Vs ACIT (Kerala High Court)

Kerala High Court held that additional machines employed for carrying out the freeze-drying process entitled to enhanced depreciation at 20% under section 32(1)(iia) of the Income Tax Act. Appeal allowed, accordingly.

Facts- Appellant, an exporter of premium food products, is an assessee under the Income Tax Act, 1961. Appellant had for the Assessment year 2013-14 filed returns declaring a total income of Rs.2,42,34,820/-. While completing the assessment u/s. 143(3) of the IT Act

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