Additional dep can be charged or not??!!
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 October 2012
XYZ COMPANY TOOK ON LEASE A MACHINERY & AFTER 3 YEARS PURCHASED IT THEREBY OWNING THE MACHINE.THE QUERY IS WHETHER THE MACHINE BE TREATED AS NEW MACHINE & WHERE OTHER CONDITIONS AS PER SEC 32 ARE FULFILLED.
PLEASE REPLY
THANKS IN ADV
PLEASE REPLY
THANKS IN ADV
28 October 2012
only on new machine purchase Addl. dep. allowed
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 October 2012
the line says as per the I.T.Act
(A) any machinery or plant which, before its installation by the assessee, was used either within or outside India by ANY OTHER PERSON
(A) any machinery or plant which, before its installation by the assessee, was used either within or outside India by ANY OTHER PERSON
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