https://www.taxtmi.com/caselaws?id=236233 The High Court upheld the ITAT's decision, ruling that the assessee was entitled to claim depreciation on the Gas Sweetening Plant. The Court interpreted "used" under Section 32 broadly to include readiness for use, especially when non-use was due to external factors like raw material unavailability. Citing precedents, the Court emphasized that depreciation claims should not be denied when the asset is ready for use but not actively used due to factors beyond the assessee's control. The Court rejected the Revenue's appeal, affirming the ITAT's decision. en-us Tue, 09 Jul 2013 00:00:00 +0530 Sat, 07 Dec 2013 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236233 The High Court upheld the ITAT's decision, ruling that the assessee was entitled to claim depreciation on the Gas Sweetening Plant. The Court interpreted "used" under Section 32 broadly to include readiness for use, especially when non-use was due to external factors like raw material unavailability. Citing precedents, the Court emphasized that depreciation claims should not be denied when the asset is ready for use but not actively used due to factors beyond the assessee's control. The Court rejected the Revenue's appeal, affirming the ITAT's decision. Case-Laws Income Tax Tue, 09 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236233