Additional depreciation

Opening WDV - Plant and Machinery

Add New Asset

Less Sold Asset

Less Dep (incld addl depreciation)

Closing WDV

Notes:

1. Additional Dep is allowed

2. If the asset sold is the only asset in block then capital loss u/s 50 would have to be calculated

3. Asset should have been put to use

If the above conditions are fulfiiled then all is allowed.

yes it is allowed, even if asset is sold in 1st yr of purchase

yes it shall be allowed.