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The Tax Publishers Depreciation claim on Wind Turbine Generator (WTG) by a NBFC *Facts:* Assessee was a NBFC into financing power/energy projects. They acquired a windmill and claimed depreciation on the same. Revenue's case was since being in NBFC business no depreciation should be allowed in a totally unrelated business asset such as WTG. CIT(A) allowed the depreciation claim of the assessee. Revenue went in higher appeal - Held against revenue that the assessee was eligible to claim depreciation on the WTG. *Applied:* Assessee's own case at Delhi High Court in earlier years - Honble Delhi High Court ITA No. 1267/Del/2015 for AY 2010-11judgment dated 22nd September, 2022 where's revenue's appeal was dismissed. *Case:* DCIT v. PTC India Financial Services Ltd. 2023 TaxPub(DT) 1847 (Delhi F Bench)

The Tax Publishers

Depreciation claim on Wind Turbine Generator (WTG) by a NBFC

Facts:

Assessee was a NBFC into financing power/energy projects. They acquired a windmill and claimed depreciation on the same. Revenue's case was since being in NBFC business no depreciation should be allowed in a totally unrelated business asset such as WTG. CIT(A) allowed the depreciation claim of the assessee. Revenue went in higher appeal -

Held against revenue that the assessee was eligible to claim depreciation on the WTG.

Applied: Assessee's own case at Delhi High Court in earlier years - Honble Delhi High Court ITA No. 1267/Del/2015 for AY 2010-11judgment dated 22nd September, 2022 where's revenue's appeal was dismissed.

Case: DCIT v. PTC India Financial Services Ltd. 2023 TaxPub(DT) 1847 (Delhi F Bench)