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=24474 Input tax credit shall not be allowed on the tax component of the cost of capital goods in respect of which a registered taxable person has claimed depreciation; the disallowance applies specifically to the tax element for which depreciation has been availed, while other eligible input tax credits remain unaffected. en-us Mon, 03 Apr 2017 15:25:19 +0530 Mon, 03 Apr 2017 15:25:19 +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=24474 Input tax credit shall not be allowed on the tax component of the cost of capital goods in respect of which a registered taxable person has claimed depreciation; the disallowance applies specifically to the tax element for which depreciation has been availed, while other eligible input tax credits remain unaffected. Act-Rules Bills Mon, 03 Apr 2017 15:25:19 +0530 https://www.taxtmi.com/acts?id=24474