Assertion (A):    Among all methods of charging depreciation of fixed assets, diminishing balance method is the best method

Reasoning (R): Diminishing balance method of charging depreciation has been permitted under the Income Tax Act, 1961 for claiming deduction for depreciation

  • A

    (A) is correct but (R) is not correct

  • B

    Both (A) and (R) are correct but (R) is not the correct explanation of (A)

  • C

    (A) is incorrect but (R) is correct

  • D

    Both (A) and (R) are correct and (R) is the correct explanation of (A)