Depreciation under IT Act Section 32 not allowable if No Business Activity

Arrow Manpower Services (P) Ltd. Vs ACIT (ITAT Delhi)

Introduction: In a significant ruling by ITAT Delhi, the Arrow Manpower Services (P) Ltd. came face to face with ACIT. The pivotal issue revolved around the claim of depreciation u/s 32 of the Income Tax Act and the necessity of carrying out business activities.

Analysis:

1. Backdrop of the Case: Arrow Manpower Services (P) Ltd. appealed against the o

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