Depreciation allowable at the time of assessment u/s 143(3)
This query is : Resolved
02 March 2013
Where the Company assessee has shown the income from renting out its building under the income from House Property, is being assessed as business Income under section 143(3), whether depreciation on said building of the assessee will be available or not..??
03 March 2013
The question must be raised before the AO as the claim is consequential to his own assessment and has to be compulsorily allowed in the per-view of Section 32(1).
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