https://www.taxtmi.com/caselaws?id=188502 Depreciation under the business provisions was confined to buildings, machinery, plant or furniture actually used for business during the relevant accounting year, so idle assets did not qualify. The discarding allowance was similarly limited to machinery or plant actually discarded within that accounting year, and no allowance arose for assets discarded before it began. The Court also held that it could not examine questions not validly referred by the Commissioner once the statutory time for seeking a further reference had expired; those matters had to be pursued through the prescribed procedure and were not reopened in the existing reference. en-us Thu, 23 Feb 1928 00:00:00 +0530 Sat, 03 Dec 2016 12:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188502 Depreciation under the business provisions was confined to buildings, machinery, plant or furniture actually used for business during the relevant accounting year, so idle assets did not qualify. The discarding allowance was similarly limited to machinery or plant actually discarded within that accounting year, and no allowance arose for assets discarded before it began. The Court also held that it could not examine questions not validly referred by the Commissioner once the statutory time for seeking a further reference had expired; those matters had to be pursued through the prescribed procedure and were not reopened in the existing reference. Case-Laws Income Tax Thu, 23 Feb 1928 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188502