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TMI Blog2021 (9) TMI 734X X X X Extracts X X X X X X X X Extracts X X X X ..... e in 1974 and in respect of which depreciation was allowed to it as a business asset for 21 years, that is up to the assessment year 1995-96, still continued to be part of the business asset and depreciable asset, no matter the non-user disentitles the assessee for depreciation for two years prior to the date of sale. How a depreciable asset forming part of the block of assets within the meaning o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he previous year in which depreciation was allowed last. The High Court has, therefore, rightly restored the findings and addition made in the assessment order. Hence, we find no merit in this appeal and it is dismissed. - Civil Appeal No. 8605 of 2011 - - - Dated:- 7-7-2021 - A. M. Khanwilkar And Sanjiv Khanna JJ. For the Appellant : Ms. Anjani Aiyagiri and R. N. Keswani, Advocates ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... part of the business asset and depre ciable asset, no matter the non-user disentitles the assessee for depreciation for two years prior to the date of sale. We do not know how a depreciable asset forming part of the block of assets within the meaning of section 2(11) of the Income-tax Act, 1961 can cease to be part of block of assets. The description of the asset by the assessee in the balance-she ..... X X X X Extracts X X X X X X X X Extracts X X X X
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