{"id":7148,"date":"2016-05-21T13:36:04","date_gmt":"2016-05-21T08:06:04","guid":{"rendered":"http:\/\/www.itatonline.org\/info\/?p=7148"},"modified":"2016-05-21T13:39:53","modified_gmt":"2016-05-21T08:09:53","slug":"cbdt-circular-on-allowability-of-additional-depreciation-us-321iia-of-the-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/cbdt-circular-on-allowability-of-additional-depreciation-us-321iia-of-the-income-tax-act-1961\/","title":{"rendered":"CBDT Circular On Allowability Of Additional Depreciation U\/s 32(1)(iia) of the Income-tax Act, 1961"},"content":{"rendered":"<p>The CBDT has issued Circular No. 15\/2016 dated 19.05.2016 in which it has dealt with the issue of allowability of additional depreciation u\/s 32(1)(iia) of the Income-tax Act, 1961 in the context of the judgements of the Kerala and Delhi High Courts in Mathrubhoomi Printing &#038; Publishing Co. and Delhi Press Patra Prakashan Ltd.<\/p>\n<div class=\"journal2\"><a href=\"https:\/\/www.itatonline.org\/info\/index.php\/cbdt-circular-on-allowability-of-additional-depreciation-us-321iia-of-the-income-tax-act-1961\/cbdt-circular-15-additional-depreciation\/#dlcenter\" rel=\"attachment wp-att-7149\">Click here to download Circular No. 15\/2016 dated 19.05.2016<\/a><\/div>\n<p><HR\/><\/p>\n<blockquote><p>Circular No. 15\/2016<\/p>\n<p>F. No. 279\/Misc\/140\/2015\/ITJ<br \/>\nGovernment of India<br \/>\nMinistry of Finance<br \/>\nDepartment of Revenue<br \/>\nCentral Board of Direct Taxes <\/p>\n<p>New Delhi, 19th May, 2016 <\/p>\n<p>Subject: Additional Depreciation u\/s 32(1)(iia) of the Income Tax Act, 1961 -reg. <\/p>\n<p>An assessee, engaged in the business of manufacture or production of an article or thing, is eligible to claim additional depreciation under clause (iia) of sub-section (1) of section 32 of the Income-tax Act, 1961 (hereinafter referred to as the Act) in addition to the depreciation allowance under sub-section (1) of section 32 of the Act. <\/p>\n<p>2. Whether or not an assessee engaged in printing or printing and publishing is eligible for grant of additional depreciation under clause (iia) of sub-section (1) of section 32 of the Act, has been a contentious issue. In other words, whether printing or printing and publishing amounts to manufacture or production of article or thing has been contested in legal forums. <\/p>\n<p>3. The Hon&#8217;ble Kerala High Court in the case of Mathrubhoomi Printing &#038; Publishing Co. vide its judgment&#8217; dated 16.2.2015 in ITA No 23 of 2015 relied upon the Hon&#8217;ble Delhi High Court judgement dated 31.5.2013 in 1TA No 49 of 1996 in the case of Delhi Press Patra Prakashan Ltd.2 and held that printing and publishing activity is a manufacturing activity and therefore, assessee is eligible for grant of additional depreciation u\/s 32(1)(iia). <\/p>\n<p>4. The Board has accepted the position that printing or printing and publishing amounts to manufacture or production of article or thing. The judgments of Hon&#8217;ble Delhi and Kerala High Courts on this issue have been accepted. Thus the issue relating to grant of deprecation u\/s 32(1) (iia) has not been further contested, though the Delhi High Court judgment has been contested on other issues. <\/p>\n<p>5. It is, therefore, a settled position that the business of printing or printing and publishing amounts to manufacture or production of an article or thing and is accordingly eligible for additional depreciation u\/s 32(l)(iia) of the Act. Henceforth, appeals may not be filed on this ground by officers of the Department and those already filed, in Courts\/Tribunals may be withdrawn \/ not pressed upon. <\/p>\n<p>6. The above may be brought to the notice of all concerned.<br \/>\n(Sadhana Panwar)<br \/>\nDCIT (OSD)(ITJ),<br \/>\nCBDT; New Delhi.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The CBDT has issued Circular No. 15\/2016 dated 19.05.2016 in which it has dealt with the issue of allowability of additional depreciation u\/s 32(1)(iia) of the Income-tax Act, 1961 in the context of the judgements of the Kerala and Delhi High Courts in Mathrubhoomi Printing &#038; Publishing Co. and Delhi Press Patra Prakashan Ltd<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/cbdt-circular-on-allowability-of-additional-depreciation-us-321iia-of-the-income-tax-act-1961\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_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":[1,7],"tags":[],"class_list":["post-7148","post","type-post","status-publish","format-standard","hentry","category-all-information","category-others"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/7148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=7148"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/7148\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=7148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=7148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=7148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}