14 August 2008
Can an assesse claim depreciation for fixed assets even though they are not used for production in that year,there was no production due to some reason?The assets ready to use for production.
is there any case laws relating to this situation?.
15 August 2008
Make your question more clear. Whether the assets has been used in any previous year and not used in current year or whether not used at all and only ready to use. In first case, you can claim depr. but in second case, the assets has to be put to use for claiming depreciation..
15 August 2008
no you can't claim depreciation at all bcoz to claim it one need to put assetin use in the relevant previouse year you can refer to case law High court of Bombay, nagpur bench Dineshkumar gulabchand aggarwal vs CIT
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