Section 32
This query is : Resolved
17 February 2021
My client surrendered Rs 42,00,000/- in hospital building construction. Now in Assessment proceedings DCIT objected on taking depreciation on amount surrendered and asking that depreciation would not be allowed due to payment not made by account payee cheque,draft or use of electronic clearing system through a bank account.
Please advice very soon.
Please advice very soon.
29 November 2021
DCIT IS CORRECT. EVEN IF YOU GO FOR APPEAL, CHANGES OF ALLOWING THE DEPRECIATION IS VERY RARE.
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