https://www.taxtmi.com/caselaws?id=65153 Depreciation on a truck turned on whether the asset had actually been used during the previous year and whether income had been earned from it. The available material did not conclusively establish actual plying, and the documents said to support use of the truck were not on record. The matter was therefore restored for fresh consideration so that evidence of income from the truck could be examined. It was noted that if the truck had in fact plied during the year and income had been derived from it, depreciation would be admissible. The order allowing depreciation was set aside and the issue remanded for disposal in accordance with law. en-us Mon, 14 Apr 1986 00:00:00 +0530 Sat, 12 Feb 2011 15:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65153 Depreciation on a truck turned on whether the asset had actually been used during the previous year and whether income had been earned from it. The available material did not conclusively establish actual plying, and the documents said to support use of the truck were not on record. The matter was therefore restored for fresh consideration so that evidence of income from the truck could be examined. It was noted that if the truck had in fact plied during the year and income had been derived from it, depreciation would be admissible. The order allowing depreciation was set aside and the issue remanded for disposal in accordance with law. Case-Laws Income Tax Mon, 14 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65153