Perspective of members on same query.Please ref below links !!
https://www.lawyersclubindia.com/experts/details.asp?mod_id=99531
https://taxlawsjournal.wordpress.com/category/income-tax/disallowance/
/experts/car-purchase-in-cash-693510.asp
Thanks
Purchase of fixed assets
Page no : 2
Naresh Patel
(C.A. Final)
(144 Points)
Replied 05 August 2011
Yaa.. you can purchase the Fixed Assets in cash and depreciation U/S. 32 will be claimed year to year on that acquired asset.
CA Devender Chauhan
(Group Financial Accountant)
(1526 Points)
Replied 06 August 2011
Thanks Mansha...........
Srinivas Karanam
(ksrinivas1729@gmail.com)
(34 Points)
Replied 02 July 2012
| Hi. |
In the latest TaxmaBook Direct taxes law and Practise It says Depreciation is disallowable .under Sec 40A(3)
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