https://www.taxtmi.com/caselaws?id=12123 Depreciation under section 32 was denied because the taxpayer failed to prove that the motor cars were used for business during the relevant year. Although the cars were purchased on the last day of the accounting year, they were not registered for road use and no evidence showed actual business use before year-end. Since depreciation requires both ownership and user for business or profession, presumptive allowance was not justified. The question was answered in favour of the Revenue and against the assessee. en-us Thu, 05 Sep 2002 00:00:00 +0530 Thu, 13 Aug 2015 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12123 Depreciation under section 32 was denied because the taxpayer failed to prove that the motor cars were used for business during the relevant year. Although the cars were purchased on the last day of the accounting year, they were not registered for road use and no evidence showed actual business use before year-end. Since depreciation requires both ownership and user for business or profession, presumptive allowance was not justified. The question was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 05 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12123