Depreciation on r&d equipments

I.V. Chandra Sekhar (Asst. Manager) (172 Points)

14 December 2011  

 Please clarify me on the below issueS

"ABC Ltd." is engaged in manufacture of Agricultural Products and for that it has in-house R&D Division  is there. For that purpose, company procured some equipments for research purpose. Whether company can claim depreciation benefit under Companies Act or shall write-off the amount as expense in the P & L A/c in the year of acquisition. However, company claiming 200% depreciation under Sec.35(2AB) of the Income Tax Act, 1961."