PCIT v. Vedanta Ltd. (2023) 291 Taxman 205/(2022) 448 ITR 732 (SC) Editorial : PCIT v. Sesa Goa Ltd (2023) 146 taxmann.com 35 / 291 Taxman 229 (Bom)(HC)

S. 32 : Depreciation-Activity of mining, mineral processing for exports, shipping etc. Amounted to production of iron-ore-Entitled for additional depreciation in respect of machinery used in mining.

It was held that since the activity of mining, mineral processing for exports, shipping etc. carried out by the assessee-company would amount to the production of iron-ore, the assessee was entitled to additional depreciation in respect of machinery used in mining. SLP filed by Revenue against the order of the High Court was to be dismissed. (AY. 2009-2010  2010-2011)