DEPRECIATION
This query is : Resolved
Querist : Anonymous
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?
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).
Citation : - CIT v. Oriental Coal Co. Ltd. [1994] 206 ITR 682 (Cal).
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