https://www.taxtmi.com/caselaws?id=63930 Depreciation on a truck was denied because section 32 requires proof that the asset was used, or at least kept ready for use, during the relevant previous year. The alleged use was rejected as unsupported by reliable books, receipts, diary entries, or contemporaneous accounts, and the absence of the required fitness certificate and registration during the period showed it was not commercially ready. The assessee therefore failed to establish actual user or passive readiness for use, and the disallowance was upheld. en-us Thu, 13 Jul 1989 00:00:00 +0530 Wed, 02 Feb 2011 17:30:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63930 Depreciation on a truck was denied because section 32 requires proof that the asset was used, or at least kept ready for use, during the relevant previous year. The alleged use was rejected as unsupported by reliable books, receipts, diary entries, or contemporaneous accounts, and the absence of the required fitness certificate and registration during the period showed it was not commercially ready. The assessee therefore failed to establish actual user or passive readiness for use, and the disallowance was upheld. Case-Laws Income Tax Thu, 13 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63930