Depreciation cannot be claimed on Enhanced Value of second hand Windmill

V. Sabitamani Vs Asst.CIT (Madras High Court) It was pointed out that the original owner, the assessee’s vendor had claimed depreciation to the extent of Rs.3 Crores within six years and when the owner sells the windmill to the new purchaser, the new purchaser cannot get the same benefit for the enhanced value, as there is no additional wind energy capacity installed. Ultimately, the assessing officer disagreed with the assessee and disallowed the claim of depreciation to the tune of Rs.77,12,640/-. 15. The CIT[A], in our considered view, while partly allowing the assessee’s appeal...