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CA Deepak jain (Querist)
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29 March 2011 an assesse file returnof A.Y. 2010-11 as per section 44 AF Retailer now , he is file return basis of normal books of account maintain
and show balance sheet with proprietor capital and loan from relative .
now under intimation 143(1) and disallow depreciatin .
what are reason of such disallow?
is assesse get any other trouble for change of file return by deptt.?
further assessee in next year file return in presumptive section?
return file nature of business - retailer

Maninder Jain

Maninder Jain (Expert)
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30 March 2011 When you declare income u/s 44AF, all business deductions are assumed to be allready allowed. So no further deduction of depreciation is aloowed. Deptt is right in disallowing depreciation

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