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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

The eligibility for the claim of depreciation should be ...


Depreciation Eligibility Starts on Installation Date; "Acquired" Means Ownership of Plant and Machinery Assets.

May 13, 2016

Case Laws     Income Tax     AT

The eligibility for the claim of depreciation should be considered from the date of the installation of the plant and machineries, and the word “acquired” has to be considered in the light of “ownership” of the asset. - AT

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