Where the registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the provisions of the Income Tax Act, 1961, will ITC be allowed in such cases?

Where the registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the provisions of the Income Tax Act, 1961, will ITC be allowed in such cases? https://www.taxtmi.com/acts?id=22369 Where a registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the Income Tax Act, 1961, the grant of input tax credit on that tax component is precluded under section 16(10) of the MGL, denying ITC for the tax element of capital goods when depreciation has been claimed under income tax provisions. en-us Thu, 22 Sep 2016 16:56:08 +0530 Thu, 22 Sep 2016 16:56:08 +0530 TaxTMI RSS Generator Where the registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the provisions of the Income Tax Act, 1961, will ITC be allowed in such cases? https://www.taxtmi.com/acts?id=22369 Where a registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the Income Tax Act, 1961, the grant of input tax credit on that tax component is precluded under section 16(10) of the MGL, denying ITC for the tax element of capital goods when depreciation has been claimed under income tax provisions. Act-Rules Bills Thu, 22 Sep 2016 16:56:08 +0530 https://www.taxtmi.com/acts?id=22369