24 April 2015
if we not use an business asset for the purpose of business in a year but not in 1st year of asset, can we claim depreciation on that asset for that year?Because as per sec 32, for claiming depreciation asset must be used or the business. Plz guide me whether we can claim dep or not.
27 April 2015
under which section the notice related for disallowance of dep...
Thats what m saying the said condition is given only for the first year.. and no where is written that u had to check put to use date everyyear.. because put to date can b seen only once
27 April 2015
sir, actually assessee is using block of assets method of depreciation. In such block approx 10 assets exist but during a f.y. single asset from the block is not used and the deptt says we cannot claim dep for the whole block becoz of that asset. what is it remedy?
27 April 2015
check mah all links... wait i had read a case too related to this on which if a single assets is used out of the block,,, then depreciation for whole block is allowed...
because once u put an asset in block... individual importance gets over.. and depreciation calculation wil b on the basis of block
27 April 2015
now i am fully satisfied with your opinion and a big thanks for giving continous reply of my queries and for giving reference of case laws.
CAclubindia
