Depreciation u/s 32
This query is : Resolved
13 July 2012
There were 2 manufacturing division. out of which one unit completely closed down by selling some assets.Depreciation can be claimed for assets which is not sold for remaining years? As per sathyam case it is allowable.
15 July 2012
In case the manufacturing activities are carried on or can be carried on with the help of remaining assets or if the facts in your case are similar to that of Satyam's
case you may charge depreciation on the remaining block of assets.
.
For a discontinued business, depreciation is not allowable.
.
case you may charge depreciation on the remaining block of assets.
.
For a discontinued business, depreciation is not allowable.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on Restaurant service
- Excess salary reported by employer to IT Dept.
- Audit applicability of ITR
- Income classification under heads of income under income Tax
- Invoice Received but goods received on Later Date.
- GST- ITC Eligibility
- Renting of trucks, JCB, cranes etc., is not covered under RCM.
- Query related to 2 buyers and 1 seller in form 26QB
- Utilization of interest in TDS challan
- TDS Q4 RETURN - DEFAULTS DUE TO WRONG DEDUCTIONS DATES
- Old tax regime for ITR 3
- Issue of cash Memos and Tax Invoices in GST
- Rooftop subsidy
- Hsn code in GST
- Goodwill calculate
- Applicability of Interest u/s 201(1A) when the TDS threshold is crossed.
- Treatment of Foreign CHA Freight Invoice Entry
- Way to retain loss ITC
- HSN Code- Standup Comedian
- REGARDING AMENDMENT UNDER SECTION 40(b) IN FINANCE ACT (NO.2), 2024
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
