Dismissing the appeal the Tribunal held that merely because properties continued to form block of assets depreciation is not allowable as there is no business income during the year and the income is assessed as income from house property (AY. 2013-14)
Emco Dyestuff (P.) Ltd. v. DCIT (2019) 178 ITD 111 / 184 DTR 345(Mum.)(Trib.)
S. 32 : Depreciation-Income from house property–Properties continued to form block of assets–Depreciation is not allowable. [S. 2(11)]