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depriciation section 32

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(Querist)
03 July 2009 is depriciation is allowable on the assets which is name on partner and use in the business in the partnership firm
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 July 2009 In the case of vehicles,in the cited situation,the firm can claim depreciation.

Citation:-CIT Vs.Navadurga Transport Co.(1998) 149 CTR (All) 219.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
03 July 2009 yes it can be claim
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
03 July 2009 It should satisfy the condition that the consideration for acquiring the asset must have been paid by the partnership firm.

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