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Section 32ac clarification

This query is : Resolved 
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(Querist)
04 December 2014 This is regarding clarification on deduction u/s section 32AC.

The company purchased a asset worth Rs. 1 crore in March'13 (Financial year 2012-13) and installed and capitalized the same in the month of May'13 (Financial year 2013-14). Whether that investment will qualify for deduction under section 32AC?

Further if the same is allowed as deduction is there any legal backing for the same.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
04 December 2014 the ans is yes allowed to do so..........

https://taxguru.in/income-tax/investment-allowance-section-32ac.html
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