TMI BlogDisallowance of depreciation on the Project Berth - cost of construction / development - Circular can be...Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in previous assessment years. We therefore direct the Ld. AO to amortize the cost of buildings, structures, berths, wharves, equipment and other immovable and movable assets constructed, installed, located, created as provided by the Licensee after deducting depreciation claimed by the assessee and allowed by the revenue in earlier year..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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