Disallowance of Depreciation claimed on the machineries ...

Income Tax

February 8, 2021

Disallowance of Depreciation claimed on the machineries purchased at the end of the year - It is quite evident the machines were not only installed but ready to use as on 30.03.2013. Once this is an accepted position if the assets in the form of machinery equipment are kept ready for use, then same is eligible for depreciation as per the Income Tax Rules. - AT

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Disallowance of Depreciation claimed on the machineries ...

Income Tax

February 8, 2021

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