as assets excessively capitalised last year was decapitalised in relevant previous year.
Teh depreciation on such assets chrged to Profit last year is reversed in current year and shown in Form 3CD as Prior Period . But acording to me it should be taxble under head PGBP u/s 41 of Incoem Tax act relating to reversal of liability incurred...
pls advise
on reversal the net effect is added in taxable income, so no need to add it 2nd time.
| Originally posted by : U S Sharma | ||
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on reversal the net effect is added in taxable income, so no need to add it 2nd time. |
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