additional depreciation section 32(iia)
This query is : Resolved
22 June 2009
what if additional depreciation under section 32(iia) is not claimed even if it is eligible to be claimed? can we claim the normal depreciation as if there were no additional depreciation ?
22 June 2009
Yes you can claim that. But at the time of sale of plant the department will calculate the WDV considering the additional dep.
It is considered as deemed depreciation allowed. ITO may make such addition to income.
Experts please clarify the issue, in case me view is incorrect.
It is considered as deemed depreciation allowed. ITO may make such addition to income.
Experts please clarify the issue, in case me view is incorrect.
22 June 2009
Agreed with Chetan.
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