https://www.taxtmi.com/caselaws?id=63010 Depreciation under section 32 requires the asset to be used for business or, at minimum, kept ready for use during the relevant year. A truck purchased but not registered, without a fitness certificate, and not lawfully capable of being plied was neither actually used nor ready for use. Taking the vehicle for inspection and constructing its body before registration did not satisfy the statutory condition. The claim for depreciation therefore failed because the legal impediment to road use meant the asset was not available for business use in the relevant previous year. en-us Wed, 18 Mar 1987 00:00:00 +0530 Thu, 27 Jan 2011 12:41:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63010 Depreciation under section 32 requires the asset to be used for business or, at minimum, kept ready for use during the relevant year. A truck purchased but not registered, without a fitness certificate, and not lawfully capable of being plied was neither actually used nor ready for use. Taking the vehicle for inspection and constructing its body before registration did not satisfy the statutory condition. The claim for depreciation therefore failed because the legal impediment to road use meant the asset was not available for business use in the relevant previous year. Case-Laws Income Tax Wed, 18 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63010