Deduction under section 35ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2016 WHETHER DEDUCTION UNDER SECTION 35AD AND DEPRECIATION ON CAPITAL ASSETS ARE ALLOWED SIMULTANEOUSLY ?
SECTION 35AD SPECIFIES THAT NO DEDUCTION IN RESPECT OF EXPENDITURE IN RESPECT OF WHICH DEDUCTION HAS BEEN CLAIMED SHALL BE ALLOWED TO THE ASSESSEE UNDER ANY PROVISIONS OF THE INCOME TAX ACT .
DOES "NO DEDUCTION" INCLUDES DEPRECIATION ALSO ?

CA SAGAR M. AHUJA

CA SAGAR M. AHUJA (Expert)
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07 October 2016 No deduction in respect of the expenditure in respect of which deduction has been claimed shall be allowed to the assessee under any other provisions of the Income Tax Act
In your case, Depreciation should not allowed as the full amount of Asset Investment (Machinery or etc.) is already claimed for deduction under section 35AD.
Thanks.