https://www.taxtmi.com/caselaws?id=7314 Depreciation on machinery is allowable only when the plant or machinery is actually used in business during the accounting year; mere readiness for use does not meet the statutory requirement, so the claim was rejected. A question of law could also not be referred under the reference provision without a valid and timely application complying with the prescribed procedural requirements, so the additional question was not entertained. The material points emphasise actual user as the basis for depreciation and strict compliance with the statutory procedure for reference of legal questions. en-us Tue, 03 May 1966 00:00:00 +0530 Tue, 17 Feb 2009 20:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7314 Depreciation on machinery is allowable only when the plant or machinery is actually used in business during the accounting year; mere readiness for use does not meet the statutory requirement, so the claim was rejected. A question of law could also not be referred under the reference provision without a valid and timely application complying with the prescribed procedural requirements, so the additional question was not entertained. The material points emphasise actual user as the basis for depreciation and strict compliance with the statutory procedure for reference of legal questions. Case-Laws Income Tax Tue, 03 May 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7314