17 May 2012
An assessed purchased a capital asset 2 yrs ago but it was not put 2 use hence no depreciation claimed but now after. 2 yrs wen d asset is nit fit ti use want to write it off,under which sec Is it possible , or not????
17 May 2012
Section 50A is applicable only when Depreciation is claimed on Capital asset under section 32. since in this case no depreciation is claimed under section 32, it normal capital asset. Section 48 is applicable for computing cost of Acquisition.
CAclubindia
