https://www.taxtmi.com/caselaws?id=247580 The Tribunal allowed the appellant's claim for depreciation on assets other than plant and machinery, despite business closure, emphasizing that as long as the company existed, depreciation was permissible. The Tribunal relied on legal precedents and held that the appellant was entitled to depreciation even after discontinuing business operations, as maintaining necessary infrastructure for ongoing activities was essential. Consequently, the Tribunal directed the AO to permit the depreciation claim, highlighting the company's legal obligations and the importance of asset maintenance for survival. en-us Fri, 25 Apr 2014 00:00:00 +0530 Fri, 16 May 2014 08:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247580 The Tribunal allowed the appellant's claim for depreciation on assets other than plant and machinery, despite business closure, emphasizing that as long as the company existed, depreciation was permissible. The Tribunal relied on legal precedents and held that the appellant was entitled to depreciation even after discontinuing business operations, as maintaining necessary infrastructure for ongoing activities was essential. Consequently, the Tribunal directed the AO to permit the depreciation claim, highlighting the company's legal obligations and the importance of asset maintenance for survival. Case-Laws Income Tax Fri, 25 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247580