Law:

Section:

Vehicle, kept ready for use, but not actually used, is not entitled to depreciation Section 32 of the Income-tax Act, 1961 - Depreciation - Allowance/rate of - Whether word 'used' denotes actually 'used' for purposes of business and not merely ready for use - Held, yes - Whether where vehicle was not actually used, but it was kept ready for use, assessee was not entitled to claim the benefit of depreciation on such assets - Held, yes Words and phrases - 'used' as occurring in section 32 of the Income-tax Act, 1961 CASE REVIEW Whittle Anderson Ltd. v. CIT [1971] 79 ITR 613 (Bom.) (para 2) - followed. CASES REFERRED TO Whittle Anderson Ltd. v. CIT [1971] 79 ITR 613 (Bom.) (para 2). JUDGMENT 1. Heard learned counsel appearing on behalf of the appellant. 2. Learned counsel appearing on behalf of the appellant has raised a question as framed in the appeal memo and tried to contend that even if the vehicle was not actually used but since it was ready for…

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