https://www.taxtmi.com/highlights?id=60939 Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has been set up with new plant & machinery which was used for production during the year and depreciation has been claimed on such plant & machinery, then same cannot be denied on the ground that the plant & machinery of the new assets purchased during the year were not put to use. - AT en-us Wed, 15 Dec 2021 13:13:40 +0530 Wed, 15 Dec 2021 13:13:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60939 Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has been set up with new plant & machinery which was used for production during the year and depreciation has been claimed on such plant & machinery, then same cannot be denied on the ground that the plant & machinery of the new assets purchased during the year were not put to use. - AT Highlights Income Tax Wed, 15 Dec 2021 13:13:40 +0530 https://www.taxtmi.com/highlights?id=60939