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Depreciation on second hand assets purchased

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(Querist)
31 October 2008 Dear sir


Is depreciation on second had assets purchased is allowed or not at the time of tax computation?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
31 October 2008 It is allowed.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
31 October 2008 Yes. Section 32 only says that the asset shall be owned by the assessee and be put to use.
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