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.
.
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