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40 a (3)

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(Querist)
19 January 2012 Is deprecication claimed by a builder for land and building will disallowed because of the reason that he paid cash for acquire the same.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 January 2012 Section 40A(3) is not applicable to depreciation because depreciation is a non-cash expenditure.

Just becuase payment for acquiring fixed assets was made in cash, Section 40A(3) cannot be applied to depreciation on that asset.
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CA Deepak S

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CA Deepak S (Expert)
20 January 2012 Sec40A(3) is not applicable in your case.
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