Case Law Details
Case Name : National Thermal Power Corpn. Ltd. Vs Commissioner of Income-tax (Delhi High court)
Appeal Number : IT Reference No. 43-44 OF 1998
Date of Judgement/Order : 15/10/2012
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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HIGH COURT OF DELHI
National Thermal Power Corpn. Ltd.
Versus
Commissioner of Income-tax
IT REFERENCE NOS. 43-44 OF 1998
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32. (1) 96[In respect of depreciation of—
(i) buildings97, machinery97, plant or furniture, being tangible assets;
(ii) know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998,
owned97, wholly or partly, by the assessee97 and used for the purposes of the business97 or profession, the following deductions shall be allowed—]
98[(i) in the case of assets of an undertaking engaged in generation or generation and distribution of power, such percentage on the actual cost thereof to the assessee as may be prescribed99;]
(ii) 1[in the case of any block of assets, such percentage on the written down value thereof as may be prescribed2:]
3[***]
Hence if installed machinery is not put to use once no depreciation can be provided.
In the given case the machinery looks old one used in various projects.