depriciation section 32
This query is : Resolved
03 July 2009
is depriciation is allowable on the assets which is name on partner and use in the business in the partnership firm
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.
Citation:-CIT Vs.Navadurga Transport Co.(1998) 149 CTR (All) 219.
03 July 2009
yes it can be claim
03 July 2009
It should satisfy the condition that the consideration for acquiring the asset must have been paid by the partnership firm.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TCS ON SOFTWARE SALES
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- Not a CA , can we prepare balance sheet
- Regarding TAX regime
- TDS - Form 26QB - Installment - Final payment Query
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
