Voltage Stabilizer is an energy saving device; entitled to higher rate of depreciation

May 1, 2015[2015] 56 taxmann.com 337 (Madras)

IT: In case of assessee, engaged in manufacturing automobile components, depreciation was to be allowed at rate of 100 per cent in respect of micro processor based pressure indicating system and voltage stabilizer as said items were covered under Entry III(3)(iii)(B)(c) and Entry III(3)(iii)(E)(c) of Appendix - I relating to depreciation

IT: Question as to whether expenditure incurred on replacement of plant and machinery would be revenue expenditure or capital expenditure, was to be remanded back to Commissioner (Appeals) for disposal afresh