01 December 2015
Can depreciation be claimed on office furniture & fixtures and computers used in office when no income is generated to the assessee from operations? bcoz assessee is in stage of developing its principle plant & machinery to generate its revenue. also assessee giving tax on its other income i.e.interest from banks etc. Is there any case laws or judgments related to these circumstances.
02 December 2015
Claim dep from Other Sources income & not from profit & gain of business & Profession as your operation is not start so its pre operative expense otherwise where there is many limited expense can be claimed.
CAclubindia
