https://www.taxtmi.com/caselaws?id=183942 Depreciation under the income-tax provision was confined to machinery actually used for the purposes of the business during the relevant accounting year. Machinery merely kept idle, even if connected with earlier production or suitable for business use, did not satisfy the statutory requirement. A restrictive reading based on actual employment in earning income was preferred over any negative construction that would extend allowance to unused assets. The claimed depreciation was therefore disallowed and the answer went against the assessee. en-us Mon, 16 Dec 1935 00:00:00 +0530 Tue, 26 Jul 2016 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183942 Depreciation under the income-tax provision was confined to machinery actually used for the purposes of the business during the relevant accounting year. Machinery merely kept idle, even if connected with earlier production or suitable for business use, did not satisfy the statutory requirement. A restrictive reading based on actual employment in earning income was preferred over any negative construction that would extend allowance to unused assets. The claimed depreciation was therefore disallowed and the answer went against the assessee. Case-Laws Income Tax Mon, 16 Dec 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183942