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dep????

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(Querist)
26 August 2010 if single (not block) asset sold it is allowable for dep u/s 32 or not????????
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 August 2010 Depreciation allowable if block exists.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
26 August 2010 IF ASSETS SOLD DURING THE YEAR BUT BLOCK OF ASSET EXIST IN WHICH SUCH ASSETS PERTAINED, THEN DEPRECIATION WILL BE ALLOWED ON BALANCE WDV OF ASSET I.E OPENING WDV LESS SALE PROCEEDS FROM SALE OF ASSETS.
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