Functionality test not description to be applied for determining type of Asset block for Depreciation
Functionality test not description to be applied for determining type of Asset block for Depreciation The grounds deals with the disallowance of depreciation / additional depreciation claimed on plant and machinery amounting to Rs.8,23,073. The AO restricted the depreciation claimed on air conditioners, telephones, office equipments and canteen equipments by treating these assets as furniture…