Depreciation
This query is : Resolved
04 March 2014
sir,
One of the assessee has given buses to APSRTC on hire. The income derived is shown under the head 'income from the other sources'. Now the assessee is claiming depreciation on buses under plant and machinery (u/s 57(ii)/ (iii). The Road Transport Authority made TDC u/s 194C of the ACT. The depreciation claimed by the assessee is allowable or not. Please clarify with details/decisions.
Thanks.
sir,
One of the assessee has given buses to APSRTC on hire. The income derived is shown under the head 'income from the other sources'. Now the assessee is claiming depreciation on buses under plant and machinery (u/s 57(ii)/ (iii). The Road Transport Authority made TDC u/s 194C of the ACT. The depreciation claimed by the assessee is allowable or not. Please clarify with details/decisions.
Thanks.
04 March 2014
refer para 13 of the judgment at this link http://www.indiankanoon.org/doc/11464352/
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