Depreciation on Director's Gym Equipment is a Perquisite, but Still Deductible if Part of Company Assets.

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....Depreciation on Gym Equipment - At the most if any equipment has been placed for exclusive use of Managing Director the same should be added as perquisite in the hands of the said Director but cannot be disallowed in the hands of the assessee company when this asset already forms part of the block of the assets and depreciation has been allowed earlier. - AT....