Sir, a company started in january but i don't want claim depreciation for that company as i don't want show loss in year 1, so please provide any case law to disclaim depreciation.
Anil kumar D.V (CHARTERED ACCOUNTANT) (267 Points)
28 June 2011Sir, a company started in january but i don't want claim depreciation for that company as i don't want show loss in year 1, so please provide any case law to disclaim depreciation.
CA AMANPREET SINGH
(Chartered Accountant)
(284 Points)
Replied 28 June 2011
Anil, there is no Option but to claim Depreciation as it is clearly mentioned in Sec.32 that Depreciation will be allowed whether it is claimed or not.
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