Installation of plant and machinery in building would amount to use of building to claim depreciation u/s 32

The Delhi High Court has held in case of Stitchwell Qualitex (RF) Vs. ITO that Installation of plant and machinery in building would amount to use of the building and therefore assessee is eligible to claim for depreciation u/s 32 on said building . Court Further held that Depreciation is allowable on plant and machinery installed and ready for use of despite no actual use as same were for expansion of existing Plant & Machinery and were for Business Purpose Only.

Please become a Premium member. If you are already a Premium member, login here to access the full content.