https://www.taxtmi.com/caselaws?id=405691 The Court upheld the Tribunal's decision to remand the matter for verification of asset use before adding to block assets for the assessment years 2011-12 and 2012-13. The Court dismissed the appeal, ruling that asset use must be established before claiming depreciation under the Income Tax Act, emphasizing the need to ascertain if assets were used for business activity to claim depreciation, despite no income earned from asset use. en-us Tue, 23 Feb 2021 00:00:00 +0530 Wed, 04 Aug 2021 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405691 The Court upheld the Tribunal's decision to remand the matter for verification of asset use before adding to block assets for the assessment years 2011-12 and 2012-13. The Court dismissed the appeal, ruling that asset use must be established before claiming depreciation under the Income Tax Act, emphasizing the need to ascertain if assets were used for business activity to claim depreciation, despite no income earned from asset use. Case-Laws Income Tax Tue, 23 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405691