Short answer. Yes. This is the broadest use the rule allows. Any deposition may be used by any party for the purpose of contradicting or impeaching the testimony of the deponent as a witness. It does not matter that the witness is present and testifying.
What the law says
(a) Any deposition may be used by any party for the purpose of contradicting or impeaching the testimony of the deponent as a witness
Rule 23, Section 4 — Use of depositions. Read the full provision →
The least restricted of the permitted uses
The rule sets out several ways a deposition may be used at trial or on the hearing of a motion, and they are not equally open. This one is the widest: any deposition may be used by any party for the purpose of contradicting or impeaching the testimony of the deponent as a witness. There is no requirement that the deponent be unavailable, no requirement that they be a party, and no requirement that they be a corporate officer.
Why unavailability is irrelevant here
Other uses depend on the witness being beyond reach — dead, out of the country, more than one hundred kilometres from the place of trial, unable to attend because of age, sickness, infirmity or imprisonment, or not compellable by subpoena. Those conditions exist because using a deposition as substantive evidence displaces live testimony. Impeachment does not. The witness is right there, and the deposition is being used to test what they are saying now, not to replace it.
The limits that still apply
Two general conditions govern every use of a deposition and are easy to overlook. The deposition may be used only so far as admissible under the rules of evidence, and only against a party who was present or represented at the taking of the deposition, or who had due notice of it. So a deposition taken without notice to the party you now wish to bind is not available against them, whatever it contains.
Expect to be asked for the rest of it
Reading out the single passage that helps you invites an immediate response the rule expressly permits. If only part of a deposition is offered in evidence by a party, the adverse party may require the offeror to introduce all of it which is relevant to the part introduced, and any party may introduce any other parts. Identify the surrounding passages in advance, so that what follows your excerpt is not a surprise.
What impeachment use does not achieve
It is worth being clear about what you gain. Using a deposition to contradict or impeach goes to the witness's credibility — it shows the account has changed. It does not, by that route alone, establish that the earlier version was the true one. To use the deposition as proof of the facts it states, you need one of the other paragraphs: the deponent must be a party or a qualifying corporate officer, or unavailable in one of the ways the rule specifies. Litigants often conflate the two and are surprised when the court treats the transcript as bearing only on credibility.