Depreciation for unused Asset...Urgent Sir!!
This query is : Resolved
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.
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.
Guest
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
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
Message likes :
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CMA Ramesh Krishnan
(Expert)
22 September 2010
one more judgement the link here
https://www.caclubindia.com/judiciary/bombay-high-court-judgement-on-depreciation--1183.asp
one more judgement the link here
https://www.caclubindia.com/judiciary/bombay-high-court-judgement-on-depreciation--1183.asp
Message likes :
1 times
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