https://www.taxtmi.com/caselaws?id=56229 The Tribunal allowed depreciation on discarded assets of capital nature for the assessment year 1990-91, emphasizing that depreciation should be allowed on the written down value of block assets, not individual assets. It held that depreciation must be allowed for the entire block of depreciable assets, even if a specific asset within the block is not used during the year. The Tribunal directed the Assessing Officer to permit the claimed depreciation as the scrap value of the discarded machinery was not yet determined. en-us Wed, 16 Jun 1999 00:00:00 +0530 Thu, 02 Dec 2010 14:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56229 The Tribunal allowed depreciation on discarded assets of capital nature for the assessment year 1990-91, emphasizing that depreciation should be allowed on the written down value of block assets, not individual assets. It held that depreciation must be allowed for the entire block of depreciable assets, even if a specific asset within the block is not used during the year. The Tribunal directed the Assessing Officer to permit the claimed depreciation as the scrap value of the discarded machinery was not yet determined. Case-Laws Income Tax Wed, 16 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56229