Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2013 LAST YEAR IN OUR COMPANY HAS NO ANY PRODUCTION. SO CAN I CLAIM DEPRECIATION ON PLANT AND MACHINERY

motichand gupta

motichand gupta (Expert)
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11 December 2013 To claim depreciation the only requirement is that the assset is owned wholly or partially and use for busines or profession.

production is not the criteria for claiming depreciation.
Therefore, though there was no production in the previous year, you are eligible to claim depreciation.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2013 YOU HAVE ANY COPY OF HIGH COURT DECISION. SO PLEASE SEND ME

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motichand gupta

motichand gupta (Expert)
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11 December 2013 kindly refer [2000] 113 Taxman 103 (Delhi)

HIGH COURT OF DELHI
Commissioner of Income-tax

v.

Refrigeration & Allied Industries Ltd.

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Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2013 ANY OTHER RELATED TO DEPRECIATION "BLOCK OF ASSETS". PLEASE SEND ME COPY OF DECISION OF DELHI HIGH COURT.