Depreciation under section 32
This query is : Resolved
25 January 2015
whether depreciation allowed under section 32 in respect of old unused discarded machinery as the same amount is write off in the profit and loss account??? if yes any case law upon which reliance placed??pls reply
25 January 2015
Depreciation can be claimed, provided the block continues to exist in the relevant previous year.
Citation:- CIT Vs. Yamaha Motor India Pvt Ltd (2010) 328 ITR 297 (Delhi).
Citation:- CIT Vs. Yamaha Motor India Pvt Ltd (2010) 328 ITR 297 (Delhi).
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