https://www.taxtmi.com/caselaws?id=33112 The High Court of Gujarat upheld the Tribunal's decision allowing depreciation on assets within a block of assets under the Income-tax Act, 1961, even if not all assets were used in the relevant year. The Court emphasized that once assets are put to use, depreciation cannot be restricted based on partial usage, and items within a block of assets cannot be segregated for depreciation purposes. The Court found no legal flaw in the Tribunal's approach, ruling in favor of the assessee and against the revenue. en-us Wed, 11 Feb 2009 00:00:00 +0530 Wed, 30 Jan 2013 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33112 The High Court of Gujarat upheld the Tribunal's decision allowing depreciation on assets within a block of assets under the Income-tax Act, 1961, even if not all assets were used in the relevant year. The Court emphasized that once assets are put to use, depreciation cannot be restricted based on partial usage, and items within a block of assets cannot be segregated for depreciation purposes. The Court found no legal flaw in the Tribunal's approach, ruling in favor of the assessee and against the revenue. Case-Laws Income Tax Wed, 11 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33112