Admissibility of depreciation to be scrutinised by internal audit; assessing officers must provide asset breakups for verification.

The Board directs internal audit parties to scrutinise the admissibility of depreciation and development rebate per Board instructions and the Internal Audit Manual, and requires assessing officers to obtain an asset break up identifying any intangible assets so IAPs can verify whether depreciation has been incorrectly allowed on intangible assets.

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