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Depreciation

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(Querist)
30 August 2017 It is a pvt ltd Company and the Ay is 2017-18 ( Fy Year Ending 31st March 2017). Whether depreciation on purchase of fixed assets from URD { Unregistered Dealer } is allowable ?
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CA Nipun Goyal

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CA Nipun Goyal (Expert)
30 August 2017 If you have proper documents evidencing ownership, then depreciation will be allowed.
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TARIQUE RIZVI

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TARIQUE RIZVI (Querist)
30 August 2017 The buyer has purchased in cash by way of splitting (10,000 three times ). There is no documentary evidence also. I think we will have to pay tax on purchase for claiming depreciation.
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