Is generator a renewable energy device and deprecaition can be claimed at 80 under income tax act cent in case of coal fired and 80 per cent in case of oil/gas fired boilers) 80: B. Instrumentation and monitoring system for monitoring energy flows: (a) Automatic electrical load monitoring systems (b) Digital heat loss meters (c) Micro-processor based control systems (d) Infra-red thermography The primary reason for rate case filings is capital expenditures followed by utilities’ desire to implement rate mechanisms that allow for cost recovery between rate cases. The court's opinion in the case, Golan, T.C. Depreciation is a non-cash accounting expense that doesn’t involve cash flow, but it is a factor that can impact all areas of a company’s financial performance. A few of the issues with regard to the determination of the initial year for the purpose of deduction are highlighted below. In the first quarter of 2016, investor-owned electric utilities filed fourteen new rate cases. 6.2 The Hon’ble Gujarat High Court in the case of CIT v.Jolly Polymers, 342 ITR 87 (Guj.) Depreciation rates are not given under the new companies act. Entertainment Expenses A table is given below of depreciation rates applicable if the asset is purchased on or after 01 st April, 2014 and useful life is considered as given in companies act,2013 and residual value as 5%. 168(k) (bonus depreciation); Memo. depreciation expense. The LCOE is the price of electricity required for a project where revenues would equal costs, including making a return on … Further, there may be cases wherein mobile is used for business as well as personal purpose. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. Somik Ghose, Matthew J. Franchetti, in Sustainable Food Waste-To-energy Systems, 2018. dominate energy requirements. Levelized Cost of Electricity (LCOE) Generation. In this case, the maximum energy requirement for the actual machining is only 14.8% of the total. Other processes exhibit this same behaviour. Accelerated depreciation is used for income tax purposes while normal depreciation (based on the useful life of the plant) is used to set electricity rates. A third was companies’ desire to enhance return on equity. PART 'A' 1. Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. Depreciation under Companies Act, 2013. (ii) Once a unit of measurement is used, it [should] be used uniformly in the Financial Statements.. 5. 46 and 48 and a special allowance for depreciation under Sec. In … Except in the case of the first Financial Statements laid before the Company (after its incorporation) the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including notes shall also be given. At lower production rates the machining contribution is even smaller. 2018-76, addressed issues including whether the taxpayers: Established a basis in solar panels and related equipment for purposes of claiming an energy credit under Secs. This is shown in Figure 2 for an automotive machining line. In such case an estimated amount can be shown as business expense. 1 SCHEDULE II 2 (See section 123) USEFUL LIVES TO COMPUTE DEPRECIATION. company calcualtes the unwinding of discount in the following way: 1) fixed cost 0f 20 million 2) variable cost (2% of the oil barrel produced in a year) so for eg in year 1 company has produced 150 million oil barrels so provision at the end of year will be: 20 million +(150 * 2%)*1.08 =24.84 million.