Depreciation disallowance

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  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?
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