https://www.taxtmi.com/caselaws?id=17185 The High Court of Madhya Pradesh ruled in a case concerning the interpretation of depreciation allowance under section 32 of the Income-tax Act, 1961 for trucks not put to use. The court held that machinery must be actively used in business activities to earn income for depreciation claims. Emphasizing the requirement for actual use in income generation, the court decided in favor of the Revenue, stating that since the trucks were not utilized during the accounting year, no depreciation allowance was applicable. The decision highlighted the importance of actual usage of machinery for claiming depreciation under the Income-tax Act, 1961. en-us Fri, 01 Aug 1997 00:00:00 +0530 Tue, 15 Sep 2009 16:35:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17185 The High Court of Madhya Pradesh ruled in a case concerning the interpretation of depreciation allowance under section 32 of the Income-tax Act, 1961 for trucks not put to use. The court held that machinery must be actively used in business activities to earn income for depreciation claims. Emphasizing the requirement for actual use in income generation, the court decided in favor of the Revenue, stating that since the trucks were not utilized during the accounting year, no depreciation allowance was applicable. The decision highlighted the importance of actual usage of machinery for claiming depreciation under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 01 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17185