It is allowable to all assesses engaged in the manufacture/ production of any article/ item/ thing.
New Plant & Machinery should be acquired & installed after 31st March’ 2005:
· Additional depreciation is not allowable in respect of Buildings & Furniture or Old Plant & Machinery.
· The condition of Acquisition & Installation of Plant & Machinery should be satisfied simultaneously, on failure of which additional depreciation cannot be claimed on same.
Additional Depreciation claim is available only in case of Eligible Plant & Machinery, wherein all Plant & Machineries are eligible except the following:
· Ships & Aircrafts; or
· Any machinery/ plant which is and Old/ Second hand.
· Any machinery/ plant installed in any office/ residential accommodation/ guest house accommodation.
· Any machinery/ plant whose total a
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