23 March 2009
There is an fixed asset machinery which was been dismentaled from one factory & shifted to another factory in the same company ,but still it is not been reinstalled, so can I claim the depreciation for that part of the period after which it was dismentaled & till it is reinstalled , as per companies Act & Income tax act. & what if reinstallation does not take place during one accounting year (ie. it is keept in store room)
23 March 2009
Thanks for your reply but let me knwo what will it happen if the manchinery earlier used has been kept in store room for the whole accounting year. so let me know the answer as per comapnies act & Income Tax
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