https://www.taxtmi.com/caselaws?id=68897 Sale of discarded capital machinery after years of use was treated as taxable turnover because transactions incidental and ancillary to trade can be brought to assessment even when the asset is no longer in active use. However, the machinery was not classified as electrical goods under item 41 merely because it used electric motors for motive power; on its intrinsic character and common parlance meaning, it was a hydraulic broaching machine, so the special 9% rate did not apply. The general multi-point rate was therefore accepted, giving the assessee partial relief. en-us Mon, 14 Jun 1976 00:00:00 +0530 Sat, 02 Apr 2011 12:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68897 Sale of discarded capital machinery after years of use was treated as taxable turnover because transactions incidental and ancillary to trade can be brought to assessment even when the asset is no longer in active use. However, the machinery was not classified as electrical goods under item 41 merely because it used electric motors for motive power; on its intrinsic character and common parlance meaning, it was a hydraulic broaching machine, so the special 9% rate did not apply. The general multi-point rate was therefore accepted, giving the assessee partial relief. Case-Laws Income Tax Mon, 14 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68897