Block not used in a particular year
This query is : Resolved
KUNAL ARORA
(Querist)
11 August 2013
A block of asset (which was earlier put to use)was not used for the entire year. Whether depreciation will be available?
12 August 2013
The condition of put to use is applicable only in the year in which the asset is acquired. It is NOT applicable for the succeeding years.
Accordingly depreciation will be admissible on such asset.
Accordingly depreciation will be admissible on such asset.
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