Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (10) TMI 98 - KARNATAKA HIGH COURTMachinery – depreciation - machinery that was installed was found to be defective - therefore, AO held that the machinery was not used for the purpose of business as required under section 32 - When the assessee bona fide installs any machinery and to his misfortune, it becomes defective and non-functional, it cannot be said that it is not put into use for the purpose of business – merely because it did not effectively function is not a ground to reject the depreciation - depreciation entitled
|