https://www.taxtmi.com/caselaws?id=351027 The appeal by the Revenue challenging the disallowance of depreciation on plant and machinery and Factory Building for A.Y. 2005-06 was dismissed by the tribunal. The tribunal upheld the claim of the assessee for depreciation based on the block of assets principle, citing judicial precedents and emphasizing that the requirement of using the assets during the financial year is not necessary for depreciation on the entire block. The tribunal also noted that previous court decisions supported the claim for depreciation during the closure period. The order was pronounced on 15.11.2017. en-us Wed, 15 Nov 2017 00:00:00 +0530 Fri, 17 Nov 2017 08:38:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351027 The appeal by the Revenue challenging the disallowance of depreciation on plant and machinery and Factory Building for A.Y. 2005-06 was dismissed by the tribunal. The tribunal upheld the claim of the assessee for depreciation based on the block of assets principle, citing judicial precedents and emphasizing that the requirement of using the assets during the financial year is not necessary for depreciation on the entire block. The tribunal also noted that previous court decisions supported the claim for depreciation during the closure period. The order was pronounced on 15.11.2017. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351027