Depreciation, normal depreciation or extra shift depreciation - Income Tax - 528/CBDT

INSTRUCTION NO. 528/CBDT Dated : March 20, 1973 Section(s) Referred: 32 Statute: Income - Tax Act, 1961 Reference is invited to Board's Instructions No. 393 issued from F.No. 202/21/71-IT(A.II) dated 14th March, 1962 on the above subject and to say that these instructions stand superseded vide Board's Circular No. 109 dated 20th March, 1973. This Circular deals with the allowance of normal depreciation and extra shift allowance. It is an important Circular. It is suggested, therefore, that each Inspecting Asst. Commissioner should convene a meeting of the I.T. Officers working under him and explain and discuss the Circular with them. In a place where there is no Inspecting Asst. Commissioner, the senior most Income-tax Officer should explain and discuss the circular.