https://www.taxtmi.com/caselaws?id=76187 The High Court upheld the decisions of the lower authorities, ruling in favor of the assessee and dismissing the appeal filed by the Revenue. The judgment allowed depreciation claimed for a closed business activity due to external factors beyond the assessee's control, emphasizing the temporary nature of the closure and the intention to resume operations once the situation improved. The Court distinguished the case from precedents involving permanent and intentional closures, highlighting the viability of the company and the unforeseen circumstances leading to the closure. en-us Wed, 17 Feb 2010 00:00:00 +0530 Sun, 13 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76187 The High Court upheld the decisions of the lower authorities, ruling in favor of the assessee and dismissing the appeal filed by the Revenue. The judgment allowed depreciation claimed for a closed business activity due to external factors beyond the assessee's control, emphasizing the temporary nature of the closure and the intention to resume operations once the situation improved. The Court distinguished the case from precedents involving permanent and intentional closures, highlighting the viability of the company and the unforeseen circumstances leading to the closure. Case-Laws Income Tax Wed, 17 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76187