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depreciation

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03 December 2009 DURING THE ONGOING SCRUTINY FOR THE A.Y. 2007-2008 ONE OF THE CLIENT I CAME ACROSS THE IN THAT YEAR THE CLIENT HAS NOT CLAIMED DIVIDEND. MY QUESTION IS THAT IS DEPRECIATION COMPULSORY UNDER INCOME TAX ACT???????

PLZ REPLY IT IS REALLY URGENT!!!!!!!!
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 December 2009 Depreciation is mandatory.
The Finance Act 2001 inserted explanation 5 to Section 32 (1) to provide that the depreciation has to be allowed whether or not the assessee has claimed the same. Hence, depreciation is a mandatory allowance now. It is effective from the assessment year 2002-03.
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