https://www.taxtmi.com/caselaws?id=174094 The High Court upheld the Tribunal's decisions in favor of the assessee regarding the disallowance of depreciation on plant and machinery not put to use during the assessment year and the invalidity of the demand for interest under section 234B when not specified in the assessment order. The Court emphasized that assets used for business purposes are entitled to depreciation, regardless of simultaneous use of all items within the block of assets. Additionally, the Court ruled that interest could not be levied if not mentioned in the assessment order, dismissing the tax appeal. en-us Tue, 19 Jun 2012 00:00:00 +0530 Sat, 17 Jun 2017 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174094 The High Court upheld the Tribunal's decisions in favor of the assessee regarding the disallowance of depreciation on plant and machinery not put to use during the assessment year and the invalidity of the demand for interest under section 234B when not specified in the assessment order. The Court emphasized that assets used for business purposes are entitled to depreciation, regardless of simultaneous use of all items within the block of assets. Additionally, the Court ruled that interest could not be levied if not mentioned in the assessment order, dismissing the tax appeal. Case-Laws Income Tax Tue, 19 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174094