Depreciation

rishi kumar garg (Querist) 05 August 2009 This query is : Resolved
Any Vehicle received from acompany as a part of sales incentive and shown the same as income by crediting it to P & L A/c. Whether depreciation is allowable as per the decision of Webb's Agricultural Automobile Inds vs ITO reported in 47 CTR(Trib) Bang/839 . please update me on any other recent judgement in this regard.

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