Case Law Details
Pr. CIT Vs Mahalaxmi Infra Projects Ltd. (Bombay High Court)
Windmill was erected in the area which required special foundation of reinforced cement concrete and that the said reinforced cement concrete formed integral part of the windmill. Therefore, assessee was eligible for higher rate of depreciation on the civil construction, electric and other installations in the process of erecting and installing windmill. The Tribunal has also followed the decision of this Court in the case of Commissioner of Income Tax Vs. Herdilla Chemicals Ltd. reported in (1995) 216 I.T.R. 742 (Bom) in allowing the claim of the assessee.
FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT
1. These appeals are admitted for consideration on following reframed substantial questions of law :-
(a) Whether, the respondent / assessee fulfills the requirement stipulated in Section 80IA(4) of the Income Tax Act, 1961 once the conclusion reached is that it is contractor and not developer as stated in the sub-section?
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