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Depreciation treatment if asset was not used during p.y

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27 September 2014 if the asset is not used since last 3 years what will be the treatment of depreciation as per companies act and income tax act.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
27 September 2014 Depreciation will allowed once asset is put to use even if afterwards the asset remain unused.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 September 2014 Sanjay, will the treatment will be same under Companies Act too?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
27 September 2014 Yes. Since there is no provision to charge depreciation based on utilization of Asset. I may be corrected if there is any provision in this regard.

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