Consider a Situation....
In a scrutiny assesstment, the AO has disallowed some part of the depriciation claimed by the assessee in his returns and the assessee has made the payment of the taxes on such disallowance, without appealing against the order of the AO
Now my question is what will be the impact of such disallowance on the WDV of the block of assets in the subsequent years.
Do we need to re-instate the figures of the block to give the impact of such disallowance
Also assume that the time allowed to revise the subsequent return(s) has expired
Wiating for the valuable suggestions of the experts
Thanks
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Depreciation Disallowance in a scrutiny assessment
Replies (5)
once assessed taxes are paid, means such depriciation was taken in account of income, and now there is no need to revise your balance sheet fixed assets schedule in that year or coming years.
yes agree with U S Sharma..
once you paid the taxes it means you are agree with the assessing officer, thereafter you cannot revise the return...
Well.... we are fine with the year to which the scrutiny relates, we even do not want to revise the balance sheet figures of that year
What we are mainly concerned is that what is to be done with WDV of the Block in the forthcoming years
Thanks.
as the tax is paid on diff of depriciation, so you dont have to alter any figure now, wdv taken is now admitted after paying the diff of tax,
any alteration will make complication only.
what would be the outcome if taxes are not paid , what can be done
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