Depreciation disallowance

Share
Share This Thread
  1. Yusra Iqbal

    Yusra Iqbal New Member

    Suppose a person is dealing in business of garments and is having factory premises but since few months, he is not able to earn reasonable profits therefore he decided to lease out a portion of the premises. While filing his return, he claimed depreciation on the premises u/s 32 as premise is being used for business purpose and he also claimed standard deduction @ 30% as he receiving rental income under the head house property.
    Department has disallowed depreciation and asked for show cause as to why depreciation should not be disallowed?
    Is the assesse claim right?
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Balance sheet depreciation CA Mar 20, 2016
calculation of depreciation CA Jul 29, 2015
Concept of Depreciation as per the Companies Act, 2013 CA Jun 26, 2015
Depreciation on Flat purchased for staff under companies act & income tax act CA Sep 22, 2014