Quarry land deprication

Land cost is NRV or cost whichever higher.

Depreciation is never charged on LAND

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depreciation does not fall under any block under the indian income tax act 1961. lands value does not depreciate over a period of time. so, there is no depreciation in the case of land.

Above my query can relate to Section 35E in The Income- Tax Act, 1995 35E. 1 Deduction for expenditure on prospecting, etc., for certain minerals 2 Any expenditure- (i) on the acquisition of the site of the source of any mineral or group of associated minerals referred to in sub- section (2) or of any rights in or over such site; (4) The deduction to be allowed under sub- section (1) for any relevant previous year shall be- (a) an amount equal to one- tenth of the expenditure specified in subsection (2) (such one- tenth being hereafter in this sub- section referred to as the instalment); Please advice on above point Thanks & Regards

Above my query can relate to Section 35E in The Income- Tax Act, 1995 35E. 1 Deduction for expenditure on prospecting, etc., for certain minerals 2 Any expenditure- (i) on the acquisition of the site of the source of any mineral or group of associated minerals referred to in sub- section (2) or of any rights in or over such site; (4) The deduction to be allowed under sub- section (1) for any relevant previous year shall be- (a) an amount equal to one- tenth of the expenditure specified in subsection (2) (such one- tenth being hereafter in this sub- section referred to as the instalment); Please advice on above point Thanks & Regards Read more at: https://www.caclubindia.com/forum/quarry-land-deprication-486236.asp?offset=1