Capital cost cap on motor cars limits recognised purchase cost for depreciation to a statutory ceiling for post cutoff acquisitions. An inserted proviso to section 43 provides that where the actual cost of a motor car acquired after the 28th day of February, 1966, exceeds twenty five ... Summary
Capital cost cap on motor cars limits recognised purchase cost for depreciation to a statutory ceiling for post cutoff acquisitions.
An inserted proviso to section 43 provides that where the actual cost of a motor car acquired after the 28th day of February, 1966, exceeds twenty five thousand rupees, the excess shall be ignored and the actual cost shall be taken to be twenty five thousand rupees.
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