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Depreciation on less than rs.5,000

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(Querist)
04 January 2013 a co. purchased 500 chairs of rs.2000 each i.e. total of rs. 10 lakhs.
The uery is that either the cost of the chair capitalized @ 100% or as per rate specified in schedule xiv i.e. 6.33%.
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CA Anand

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CA Anand (Expert)
04 January 2013 Yes it should be @6.33%
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CA Rahul Agrawal

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CA Rahul Agrawal (Querist)
04 January 2013 Thanks Mr. Anand
is there any case law or notification for this? if yes, please suggest.
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