Additional depreciation

This query is : Resolved

Ankur Issar (Querist)
Follow

19 March 2012 Is it is mandatory to claim additional depreciation u/s 32(1)(iia) of Income tax act 1961 ? Is Explanation 2 to section 32(1) Is applicable to section 32(1)(iia) of Income tax act 1961 ? Please give your views based on recent case laws, judgements, circulars and notifications ?
Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

19 March 2012 Mandatory.
Reason is as follows:-
Explantion 5 says...... "this subsection"....
The subsection referred therein is 32(1).
Since additional depreciation under sub section (iia) falls under subsection (1),explanation 5 squarely applies to (iia) meaning thereby addtional depreciation is mandatory.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mohammad.asraf

yogesh korani

xavier

sinu kurian

SHIBSANKAR DEY

Subscribe Now

Additional depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Senior Executive

GST CONSULTANCY

Manager- Finance and Compliance

GST CONSULTANT

CA Final