132 results for “depreciation”+ Section 254(2)clear
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Bench: Shri Aby.T Varkey & Shri Waseem Ahmed
254). Accordingly on the WDV of ₹26,07,502/- assessee would have claimed depreciation @ 60% i.e.₹15,64,501/- only. Whereas assessee is entitled for depreciation @ 25% of ₹26,07,502/- which comes out to ₹6,51,876/- only. Accordingly, the AO further observed that assessee has claimed excessive depreciation