{"id":48880,"date":"2024-12-16T15:02:52","date_gmt":"2024-12-16T09:32:52","guid":{"rendered":"https:\/\/itatonline.org\/digest\/joshi-technologies-international-inc-v-asst-cit-it-2024109-itr-70-ahdtrib\/"},"modified":"2024-12-16T15:02:52","modified_gmt":"2024-12-16T09:32:52","slug":"joshi-technologies-international-inc-v-asst-cit-it-2024109-itr-70-ahdtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/joshi-technologies-international-inc-v-asst-cit-it-2024109-itr-70-ahdtrib\/","title":{"rendered":"Joshi Technologies International Inc. v. Asst. CIT (IT) (2024)109 ITR 70 (Ahd)(Trib)"},"content":{"rendered":"<p>Held that the Tribunal in the assessee\u2019s own case having allowed depreciation on oil field equipment in the assessment year 2006-07, the assessee was eligible to claim depreciation on oil field equipment at 60 per cent.\u00a0 That for the assessment year 2006-07, the Tribunal having held that extraction of mineral oil which would amount to \u201cproduction of articles or things\u201d, the assessee was eligible to claim additional depreciation under section\u00a032(1)(iia)\u00a0of the Act. (AY. 2007-08, 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation-Rate of depreciation 1Plant and machinery 1Additional depreciation 1Exploration of  crude Oil-Production of  articles or things-Depreciation allowable  at 60 Per Cent. [S.32(1)(iia), ITR, 1962,  Appx. I, Entry Iii(8)(xii).] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-48880","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cIo","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=48880"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48880\/revisions"}],"predecessor-version":[{"id":48881,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48880\/revisions\/48881"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=48880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=48880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=48880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}