14 August 2008
can a assesse claim depreciation for assets even though they are not used in the year for productions,in that the year there was no production happened ,but the assets are ready to use?
is there any case laws relating to this situation?.
15 August 2008
There is a difference between ready to use & put to use. You should be clear about the concept of put to use. The depreciation as per the income tax act will be allowed only if the assets put to use during the first year.
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