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Deduction u/s 80jja

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 May 2012 AN ASSESEE HAS CLAIMED DEDUCTION U/S 80JJA FOR 5 YRS. NOW ANOTHER ASSESEE HAS TAKEN THE PLANT AND MACHINERY OF FORMER ASSESEE ON LEASE/PURCHASE CAN THE NEW ASSESEE CLAIM DEDUCTION U/S 80JJA FOR NEXT 5 YRS ?
( PLEASE READ THE SEC. 80JJA CAREFULLY )
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 May 2012 There is no condition u/s 80JJA that the plant & machinery should not have been used by any other person.

Accordingly, deduction can be claimed.
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