depriciation section 32
This query is : Resolved
03 July 2009
is depriciation is allowable on the assets which is name on partner and use in the business in the partnership firm
03 July 2009
In the case of vehicles,in the cited situation,the firm can claim depreciation.
Citation:-CIT Vs.Navadurga Transport Co.(1998) 149 CTR (All) 219.
Citation:-CIT Vs.Navadurga Transport Co.(1998) 149 CTR (All) 219.
03 July 2009
yes it can be claim
03 July 2009
It should satisfy the condition that the consideration for acquiring the asset must have been paid by the partnership firm.
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