Additional Depreciation

Tax queries 638 views 2 replies

 

Dear All

One of my friend client of one CA.  In the Asst year 2008-09, they invested around Rs.60 lacs for new machinery purchase.  It includes in both in 1st period and also in 2nd period.

The nice Gentleman CA, had not claimed additional depreciation.  Now that case was selected for sctutiny assessment and notice u/s 143(2) is served. 

Is there is any chance to claim additional depreciation at the time of scrutiny assessment.  Is there is any case law regarding the issue. 

Thanks N regards

M.Gopalsamy

Replies (2)

Depreciation is Mandatory as per income tax act..it is not at the option of the assesse whether to claim or not....he have to claim that depreciation as per my view... 

Yes.......yes.yes....

Dep. is mandatory and is not optional.


CCI Pro

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