15 September 2014
if an asset purchased in oct2011 and not used in 2011-12. this asset used from oct2013. what is the treatment of assets dep. in year 2011-12,2012-13,2013-14.
15 September 2014
if the asset was never put to use, depreciation shall not be allowed till AY 2014-15. Please refer Superfil Products Ltd. versus Assistant Commissioner of Income-tax (IT Appeal NO. 2053 (MDS.) OF 2011 [A.Y. 1998-99]
for AY 2014-15, depreciation shall be 50% of the full depreciation amount
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