https://www.taxtmi.com/caselaws?id=345839 The Tribunal allowed the assessee's appeal, overturning the disallowance of depreciation on the generator and sortex machine. It held that assets ready for use, even if not actively used, qualify for depreciation. Citing judicial precedents, the Tribunal emphasized that passive readiness for use constitutes "use" for depreciation purposes. The decision was based on the finding that the sortex machine was utilized for trial processing, supporting the broader interpretation of "use." The appeal outcome was pronounced on 30.03.2017. en-us Thu, 30 Mar 2017 00:00:00 +0530 Fri, 28 Jul 2017 08:29:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345839 The Tribunal allowed the assessee's appeal, overturning the disallowance of depreciation on the generator and sortex machine. It held that assets ready for use, even if not actively used, qualify for depreciation. Citing judicial precedents, the Tribunal emphasized that passive readiness for use constitutes "use" for depreciation purposes. The decision was based on the finding that the sortex machine was utilized for trial processing, supporting the broader interpretation of "use." The appeal outcome was pronounced on 30.03.2017. Case-Laws Income Tax Thu, 30 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345839