Depreciation on rented galas disallowed u/s 32 as assets not used for assessee's business. Section 24 applies.

Depreciation on rented galas disallowed u/s 32 as assets not used for assessee's business. Section 24 applies. https://www.taxtmi.com/highlights?id=47454 Disallowance of depreciation on galas as given on rent - the primary condition as envisaged by Section 32 to claim the depreciation is that the assets should be used for the purposes of assessee’s business which has remained unfulfilled for galas given on rent - depreciation claimed over and above the statutory deduction u/s 24 is not allowable en-us Wed, 26 Jun 2019 07:34:59 +0530 Wed, 26 Jun 2019 07:34:59 +0530 TaxTMI RSS Generator Depreciation on rented galas disallowed u/s 32 as assets not used for assessee's business. Section 24 applies. https://www.taxtmi.com/highlights?id=47454 Disallowance of depreciation on galas as given on rent - the primary condition as envisaged by Section 32 to claim the depreciation is that the assets should be used for the purposes of assessee’s business which has remained unfulfilled for galas given on rent - depreciation claimed over and above the statutory deduction u/s 24 is not allowable Highlights Income Tax Wed, 26 Jun 2019 07:34:59 +0530 https://www.taxtmi.com/highlights?id=47454