Depreciation

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Megha S (Querist)
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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?.

Jitender

Jitender (Expert)
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15 August 2008 in income tax ,it is not allowed unless assets are PUT TO USE.

CA Abhishek Tyagi

CA Abhishek Tyagi (Expert)
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15 August 2008 IF the assets r not put to use during the year in that case the depreciation cannot be claimed.

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CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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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..

CA Kuldeep Singh

CA Kuldeep Singh (Expert)
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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