https://www.taxtmi.com/caselaws?id=403776 The Tribunal allowed the appeal of the assessee, holding that the machineries purchased at the end of the year were eligible for depreciation as they were installed and commissioned on 30th March, 2013, and ready for use in the business. The Tribunal emphasized the need for asset ownership and use for business purposes, in line with previous court judgments, and directed the depreciation to be allowed based on the evidence provided by Voltas Limited. en-us Fri, 22 Jan 2021 00:00:00 +0530 Sat, 06 Feb 2021 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403776 The Tribunal allowed the appeal of the assessee, holding that the machineries purchased at the end of the year were eligible for depreciation as they were installed and commissioned on 30th March, 2013, and ready for use in the business. The Tribunal emphasized the need for asset ownership and use for business purposes, in line with previous court judgments, and directed the depreciation to be allowed based on the evidence provided by Voltas Limited. Case-Laws Income Tax Fri, 22 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403776