Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2003 (1) TMI 19 - HC - Income Tax
Depreciation – section 32 - Vehicle – interpretation of the word "used". – appellant contend that even if the vehicle was not actually used but since it was ready for use, the assessee was entitled to claim the benefit of depreciation on such assets - The word "used" denotes actually used and not merely ready for use. The expression "used" means actually used for the purposes of the business - no substantial question of law is involved. The appeal is dismissed in limine