22 September 2014
CASE LAW..1)Assesee acquired generator for his business use ON 1/4/13 that was in passive use(i.e.reamain idle for entire) year..will depreciation be allowed for the AY 14-15 ??as sec.32 says asset must be put to use for claiming depreciation.. 2)CASE LAW..Assesee acquired computer for his business use ON 1/4 of PY..its was ready to use on 1/6/PY..it was put to use on 5/10/PY..WILL dreciation be allowed for full year or half year?as per sec.32 asset must be put to use for claiming depreciation..plz answer.thank you
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