https://www.taxtmi.com/caselaws?id=62814 A fresh ground challenging inclusion of interest on short-term deposits was held not entertainable when it was raised for the first time before the Tribunal and had not been decided by the first appellate authority; a new issue requiring further investigation falls outside the Tribunal's jurisdiction. Depreciation on construction equipment was also denied because the plant and machinery were not actually used during the year, and mere readiness for use was insufficient where the business had not commenced. The Tribunal therefore rejected the additional grounds and disallowed depreciation on the idle equipment, granting relief only to the limited extent recorded in the order. en-us Thu, 31 Jan 1985 00:00:00 +0530 Fri, 21 Jan 2011 18:45:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62814 A fresh ground challenging inclusion of interest on short-term deposits was held not entertainable when it was raised for the first time before the Tribunal and had not been decided by the first appellate authority; a new issue requiring further investigation falls outside the Tribunal's jurisdiction. Depreciation on construction equipment was also denied because the plant and machinery were not actually used during the year, and mere readiness for use was insufficient where the business had not commenced. The Tribunal therefore rejected the additional grounds and disallowed depreciation on the idle equipment, granting relief only to the limited extent recorded in the order. Case-Laws Income Tax Thu, 31 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62814