Dismissing the appeal of the assessee the Tribunal held that where the written down value of asset is reduced to zero or block of asset is empty or it ceases to exist on last date of previous year. Depreciation is not allowable .( AY. 2012-13)
Aramark India (P.) Ltd. v. DCIT (2019) 179 ITD 133 /( 2020) 191 DTR 419/ 206 TTJ 379(Mum) (Trib.)
S. 32 : Depreciation – Block of asset- Written down value of asset is reduced to zero or block of asset is empty or it ceases to exist on last date of previous year- Depreciation is not allowable . [ S. 2(11) , 41(1) 50 ]