https://www.taxtmi.com/caselaws?id=328244 The Division Bench held that if an asset is kept ready for use and not sold, discarded, or destroyed, the assessee is entitled to depreciation. In this case, the Tetrapack machine being ready for use qualified for depreciation under the Income Tax Act. The court ruled in favor of the assessee on both issues, dismissing the appeal with no costs. en-us Mon, 11 Jan 2016 00:00:00 +0530 Mon, 30 May 2016 16:56:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328244 The Division Bench held that if an asset is kept ready for use and not sold, discarded, or destroyed, the assessee is entitled to depreciation. In this case, the Tetrapack machine being ready for use qualified for depreciation under the Income Tax Act. The court ruled in favor of the assessee on both issues, dismissing the appeal with no costs. Case-Laws Income Tax Mon, 11 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328244