https://www.taxtmi.com/caselaws?id=283199 The Tribunal allowed the appeal against the disallowance of depreciation on the barge Jay - II for the assessment year 2001-02. The Assessing Officer had denied depreciation due to the barge not being used for business purposes after an accident and subsequent sale. The Tribunal held that depreciation should be allowed on the entire block of assets under section 43(6) based on the principle of user of the block as a whole, distinguishing a previous High Court decision. The Assessing Officer was directed to permit depreciation on the barge. en-us Thu, 17 Jul 2008 00:00:00 +0530 Thu, 12 Sep 2019 10:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283199 The Tribunal allowed the appeal against the disallowance of depreciation on the barge Jay - II for the assessment year 2001-02. The Assessing Officer had denied depreciation due to the barge not being used for business purposes after an accident and subsequent sale. The Tribunal held that depreciation should be allowed on the entire block of assets under section 43(6) based on the principle of user of the block as a whole, distinguishing a previous High Court decision. The Assessing Officer was directed to permit depreciation on the barge. Case-Laws Income Tax Thu, 17 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283199