Income Tax - Disallowing the investment allowance claimed u/s 32AC(1A) -...

Income Tax
November 20, 2023

Disallowing the investment allowance claimed u/s 32AC(1A) - The plain reading of Section 32AC makes it very clear in case the assessee claim depreciation on new asset then it cannot claim investment allowances on the new asset to the extent of depreciation already claimed as per the provisions of Section 32AC of the Act. - AT

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