ITAT allows depreciation on expansion expenditure treating the same as Capital

Mahindra & Mahindra Limited Vs DCIT (ITAT Mumbai) The issue under consideration is whether the expenditure incurred by the assessee for the expansion will be considered as Capital Expenditure and allowability of the depreciation on the same? In the present case, assessee is engaged in the business of manufacturing and sale of on-road automobiles, agricultural tractor implements, engine parts and accessories of motor vehicle rendering services, property development activity, financing, investment and transport solutions. The assessee submitted in the course of expanding operation bars / man...