Assessee has purchased machinery which is eligible for additional depreciation.
now the question is whether the additional depreciation is mandatory to charge or optional as per income tax act 1961 ????
it is not mandatory. For the primary depreciation, the explanation 5 to section 32(1) expressly states that depreciation is mandatory. However, no such explanation is application to 32(1)(iia).
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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