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Section 32

This query is : Resolved 
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(Querist)
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.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
29 November 2021 DCIT IS CORRECT. EVEN IF YOU GO FOR APPEAL, CHANGES OF ALLOWING THE DEPRECIATION IS VERY RARE.
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