Depreciation Claim Upheld: Section 32 Allows Depreciation on Entire Asset Block, Including Closed Units, Despite BIFR Directions.

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....Disallowance of depreciation u/s 32 - Plants not in operation - The BIFR directions do not override the provisions of Act. As long as the ownership of the assets continue to be with the assessee company - Assets of closed units could not be segregated for purpose of allowing depreciation and depreciation has to be allowed on entire block of assets. - AT....