https://www.taxtmi.com/caselaws?id=36904 Depreciation on business assets was interpreted broadly under section 10(2)(vi) of the Indian Income-tax Act, 1922: "used for the purposes of the business" includes passive user where the asset is kept ready and available as part of the profit-making apparatus. The Delhi HC noted that the buses were in working order, retained for contract work, and not used only because of lack of demand, not incapacity or unavailability. On that footing, the Rules were not read as requiring continuous actual operation, and depreciation was allowable. en-us Thu, 14 Feb 1980 00:00:00 +0530 Thu, 25 Mar 2010 12:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36904 Depreciation on business assets was interpreted broadly under section 10(2)(vi) of the Indian Income-tax Act, 1922: "used for the purposes of the business" includes passive user where the asset is kept ready and available as part of the profit-making apparatus. The Delhi HC noted that the buses were in working order, retained for contract work, and not used only because of lack of demand, not incapacity or unavailability. On that footing, the Rules were not read as requiring continuous actual operation, and depreciation was allowable. Case-Laws Income Tax Thu, 14 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36904