https://www.taxtmi.com/caselaws?id=776092 The ITAT Visakhapatnam allowed the revenue's appeal disallowing depreciation claimed by the assessee. The tribunal found no evidence that the machinery was put to use or installed during the assessment year, as raw materials were only included in capital work-in-progress without allocation to fixed assets. The assessee failed to produce an installation certificate and inauguration expenses were held insufficient to prove commencement of business. Consequently, the assessee was not considered a passive user of the assets, and depreciation was rightly disallowed. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776092 The ITAT Visakhapatnam allowed the revenue's appeal disallowing depreciation claimed by the assessee. The tribunal found no evidence that the machinery was put to use or installed during the assessment year, as raw materials were only included in capital work-in-progress without allocation to fixed assets. The assessee failed to produce an installation certificate and inauguration expenses were held insufficient to prove commencement of business. Consequently, the assessee was not considered a passive user of the assets, and depreciation was rightly disallowed. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776092