Asset which is not put to use

depreciation arises due to effluxion of time so u need to provide depreciation even though it is brand new and not used so far 

Hai,

According to opinion given by ICAI expert advisory committee in Whittle Anderson Ltd. v CIT (79 ITR 613), if the asset is plant & machinery and, it is installed and is fit for use, then depreciation should be provided. Otherwise provision for depreciation is not necessary.

However, according to accepted accounting principles, depreciation also arises out of efflux of time, hence, on has to keep in mind the type of asset too.