one of y client is a proprietor. he has a five assets in 15% block. one assets is sold with a profit. he has shown such profit as a capital gain in the books and income tax return. and other 4 assets he claim the depreciation. now cpc has issued intimation by disallowing deprecaition totally of 15% block by considering assests doesnt exists. now my questions is that
1 how to rectify the intimation by giving correct treatment.
2 i have changed the return by showing all assets in 15% block and not showing capital gain in capital gain schedule. the sale value of one assets deuct from the other assets wdv and calcuate the depreciation. because of this my profit will change. i have file that return in rectification . bt my rectification is rejected by saying depreciation not claimed properly.
3. i want proper way how to present the depreciaiton and how to recti fy it.
its urgent
pls reply as soon as possible
CAclubindia
