Depre allowability Sec 40(A)3

CA Gaurav Makwana (Partner) (126 Points)

17 November 2009  

As per Section 40(A)(3) if any assest purchased by way of cash exceeding more than Rs. 20,000/- then depreciation on that is diallowed in that year. My Question is whether in subsequent year depreciation is allowable on that assest????