https://www.taxtmi.com/caselaws?id=289967 Machinery sold after remaining unused throughout the accounting year did not attract tax on the excess over written down value under section 10(2)(vii) of the Income-tax Act, 1922. The High Court noted that the rice-milling business had not been carried on during any part of the relevant year, so the machinery was treated as unused for the whole year. Because the provision applies only where the machinery or plant has been used for part of the accounting year, no charge arose where there was no user at all. The existence of other business activities did not alter the position for the rice-mill machinery, and the sale proceeds were held not taxable. en-us Tue, 03 Aug 1954 00:00:00 +0530 Tue, 01 Sep 2020 12:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289967 Machinery sold after remaining unused throughout the accounting year did not attract tax on the excess over written down value under section 10(2)(vii) of the Income-tax Act, 1922. The High Court noted that the rice-milling business had not been carried on during any part of the relevant year, so the machinery was treated as unused for the whole year. Because the provision applies only where the machinery or plant has been used for part of the accounting year, no charge arose where there was no user at all. The existence of other business activities did not alter the position for the rice-mill machinery, and the sale proceeds were held not taxable. Case-Laws Income Tax Tue, 03 Aug 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289967