https://www.taxtmi.com/caselaws?id=3455 The court dismissed the appeal, upholding the allowance of depreciation on film rolls leased out but not used by the lessee and on an asset that was neither used nor kept ready for use. The judgment emphasized the application of the passive user theory, stating that assets kept ready for use, even if not actively utilized due to external factors like labor unrest, are eligible for depreciation benefits. The court found no substantial question of law and affirmed the lower tribunal's decision based on established legal precedents. en-us Fri, 08 Jun 2007 00:00:00 +0530 Sat, 25 Jun 2016 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3455 The court dismissed the appeal, upholding the allowance of depreciation on film rolls leased out but not used by the lessee and on an asset that was neither used nor kept ready for use. The judgment emphasized the application of the passive user theory, stating that assets kept ready for use, even if not actively utilized due to external factors like labor unrest, are eligible for depreciation benefits. The court found no substantial question of law and affirmed the lower tribunal's decision based on established legal precedents. Case-Laws Income Tax Fri, 08 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3455