S. Srinivasaraghavan v. ACIT (2022) 287 Taxman 398/114 CCH 312 (Mad.)(HC)

S. 32 : Depreciation-Windmill-Generation of electricity-Entitle to additional depreciation [S. 32(1)(iia)].

Held that generation of electricity by windmill should be equated to term ‘manufacturing or production of article or thing’ and, therefore, assessee was entitled to claim additional depreciation on windmill installed as per provision of section 32(1)(iia) of the Act. Matter remanded (AY.2006-07).