Depreciation u/s 32 ::

Last updated: 03 September 2007

Court :
High Court

Brief :
To claim depreciation under section 32 mere possession and use the property for the purpose of business or profession is enough

Citation :
Bharat Aluminium Co. Ltd. Vs. C.I.T.

Depreciation u/s 32 Bharat Aluminium Co. Ltd. Vs. C.I.T. 01/15/2007 [2007] 292 ITR 600 (Delhi) Case Fact: Whether, without having legal ownership or title of buildings/ immovable property, claiming depreciation under section 32 is justified in law? Decision: Held by the Hon`ble Court that, to claim depreciation under section 32 mere possession and use the property for the purpose of business or profession is enough