Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
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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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