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Depreciation and Sec 43B

Page no : 2

DT Fundas - Tarun rustagi ( Author) (1150 Points)
Replied 18 April 2010

my another view is that if we not paid the duty on the asset purchased from abroad then we can not bring that asset in india without paying the aforesaid duty and when the asset is not in india we can not  put to use in business in india hence there is no question of depreciation

Hari Singh Rawat (Student) (23 Points)
Replied 20 April 2010

Similar Question can be asked

Suppose assessee has purchased Fixed Asset and has not yet commenced the production and taken loan for the same and if does not pay interest for the same before the due date then.

what will happen.

and as per Section 43B interest on loan is allowed on payment basis

So it means we cannot capitalise the Interest as not paid before due date

But Interest before the commencement of production on the amounts borrowed by the assessee for the acquisition and installation of Fixed Asset forms part of the Actual Cost.

Waiting for others reply





Lavu Bhone (9 Points)
Replied 27 April 2021


We have Purchased of Kingston 960GB SSD* 2nos of Rs 18000/-  for office use  hence pls advice can we treat assets.


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