Claim of balance additional depreciation on the assets which ...

Income Tax

December 27, 2021

Claim of balance additional depreciation on the assets which were put to use in earlier year - Number of days asset put to use - whether machinery is put to use for less than 180 days ? - The very objective of insertion of a new proviso to section 32(1) is that to remove discrimination and therefore it can be safely said that the same is just a curative amendment. Even there is no provision u/s. 32(1) prohibiting the balance additional depreciation in the succeeding year. - AT

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Claim of balance additional depreciation on the assets which ...

Income Tax

December 27, 2021

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