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DEPRECIATION

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 February 2010 A factory remained closed due to lock out during the previous year.Whether depreciation can be claimed for the relevant previous year?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 February 2010 Where the factory of the assessee remained under lock-out throughout the previous year and during the lock-out period, the plant and machinery had not been actually used for the purposes of the business for a single day, depreciation on machinery was not allowable for the relevant previous year.
Citation : - CIT v. Oriental Coal Co. Ltd. [1994] 206 ITR 682 (Cal).
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