https://www.taxtmi.com/highlights?id=55495 Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill various statutory compliances and it is not disputed that the assessee is earning income from F & O business and other sources. The same was offered for tax. Unless and until the assessee is ceased to exist, the assessee is entitled for depreciation on assets which was included block of assets. For granting depreciation, it is not mandatory for assessee to have revenue from Hotel Business - AT en-us Thu, 12 Nov 2020 12:45:02 +0530 Thu, 12 Nov 2020 12:45:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55495 Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill various statutory compliances and it is not disputed that the assessee is earning income from F & O business and other sources. The same was offered for tax. Unless and until the assessee is ceased to exist, the assessee is entitled for depreciation on assets which was included block of assets. For granting depreciation, it is not mandatory for assessee to have revenue from Hotel Business - AT Highlights Income Tax Thu, 12 Nov 2020 12:45:02 +0530 https://www.taxtmi.com/highlights?id=55495