Easy Office
LCI Learning

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 February 2010 Can trust claim Depreciation u/s 32 of the I.T Act,1961?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
14 February 2010 Yes. Depreciation shall be allowed on the assets the cost of which had been fully allowed as application of income u/s 11.

Citation :- CIT Vs Institute of Banking Personnel Selection (2003) 264 ITR 110(Bom).
Profile Image

CP Ram

Profile Image

CP Ram (Expert)
14 February 2010 Fully agree with Mr. Chackrapani Warrier..
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

SIDDHARTH KOTHARI

Profile Image

SIDDHARTH KOTHARI (Querist)
17 February 2010 sir,
U/s 32,the depreciation is allowed only if assessee is falling under the head of business and profession,the trust is not a tall doing any business,then how it be allowed to the trust?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links