An industries has invested 1000 Crore in May-2016 on Energy Saving Equipment on which depreciation as per IT Act is available at the normal rate of 80%.
My query:
-Whether this investment is eligible for additional depreciation U/S 32(1) of I T Act?
-If yes, this investment of Rs. 1000 Crore will be fully depreciated (Normal 80% + Additional 20%) in the year of Investment?
However, I personally in view that additional depreciation may be available.
Please reply.
