Depreciation for unused Asset...Urgent Sir!!

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Rajesh (Querist)
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20 September 2010 Dear Experts,
Whether Depreciation can be claimed for unused assets?
Please provide me the relevant case law and if there is any link available.
With regards,
Rajesh.

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Guest (Expert)

20 September 2010 Please note that,
Usage is interpreted by Courts to include "passive use" or "potential use" and NOT necesarily "ACTIVE USE" -

Relevant case law is

Capital Bus Service Pvt. Ltd (Del.)
and Vayithiri Plantations Ltd (Mad.)

https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2009ITAct/ftn91rules005.htm

Check out the link also

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 September 2010

one more judgement the link here

https://www.caclubindia.com/judiciary/bombay-high-court-judgement-on-depreciation--1183.asp

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