No denial of depreciation due to non-usage of plant in particular period once it had been used for business purpose
[2015] 57 taxmann.com 251 (Mumbai - Trib.)
IN THE ITAT MUMBAI BENCH 'G'
General Mills India (P.) Ltd.
v.
Additional Commissioner of Income-tax
Section 32 of the Income-tax Act, 1961 - Depreciation - Allowance of (User of assets) - Assessment year 2003-04 - Assessee appointed packers for work of processing/packaging of its food products - As per agreement assessee provided plant and machinery equipment to packers for doing task - Later on agreement was terminated, but plant and machinery were lying with packers pending arbitration - Whether once plant and machinery had been used for business purposes and were ready for use any time, even if they had not been used for a particular period, it could not lead to inference that there had been no use of plant and machinery - Held, yes - Whether therefore, assessee's claim to depreciation on said plant and machinery was allowable - Held, yes [Para 15] [In favour of assessee]
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