https://www.taxtmi.com/caselaws?id=404863 The court upheld the assessee's claim for depreciation on windmills despite lack of electricity generation, allowing depreciation on assets kept ready for use. The decision aligned with the Madras High Court's precedent, emphasizing passive use as sufficient for depreciation claims. The judgment clarified that assets need not be actively employed to qualify for depreciation, broadening the interpretation of asset usage for depreciation purposes. en-us Mon, 01 Mar 2021 00:00:00 +0530 Mon, 17 May 2021 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404863 The court upheld the assessee's claim for depreciation on windmills despite lack of electricity generation, allowing depreciation on assets kept ready for use. The decision aligned with the Madras High Court's precedent, emphasizing passive use as sufficient for depreciation claims. The judgment clarified that assets need not be actively employed to qualify for depreciation, broadening the interpretation of asset usage for depreciation purposes. Case-Laws Income Tax Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404863