Depreciation Claims Not Deductible: Section 158B(b) Defines as Written Down Value, Not Income Under Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Claim of depreciation going by definition of undisclosed income in Section 158B(b) of the Act cannot be said to be allowable or deductible expense as it is really written down value of the assets hence it cannot be said to be an income.... - HC....