Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Depreciation on machinery was disputed on the ground that certain units were not used during the relevant year. The court held that, post the "block of assets" regime, depreciation is allowable with reference to the block as a whole, and not asset-wise or unit-wise; once the assessee continues its business, the block is treated as "put to use," and non-use of particular assets within the block does not defeat the claim. Section 38(2) was held inapplicable because there was no allegation of non-business or personal use. Depreciation was allowed to the assessee. - HC
Depreciation on machinery was disputed on the ground that certain units were not used during the relevant year. The court held that, post the "block of assets" regime, depreciation is allowable with reference to the block as a whole, and not asset-wise or unit-wise; once the assessee continues its business, the block is treated as "put to use," and non-use of particular assets within the block does not defeat the claim. Section 38(2) was held inapplicable because there was no allegation of non-business or personal use. Depreciation was allowed to the assessee. - HC
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