https://www.taxtmi.com/caselaws?id=37890 Surplus realised on sale of discarded machinery was examined for tax treatment under Section 10(2A) and the second proviso to Section 10(2)(vii) of the Indian Income-tax Act, 1922. The analysis states that Section 10(2A) did not apply because the sale surplus was not a loss, expenditure, or trading liability attributable to depreciation allowed in earlier years, and the second proviso to Section 10(2)(vii) depended on the machinery being used in the relevant year of sale. The record also contained evidence, including the assessee's statement and a letter to the Income-tax Officer, supporting the finding that the machinery was not used in the year of sale. en-us Mon, 31 Oct 1977 00:00:00 +0530 Thu, 01 Apr 2010 16:21:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37890 Surplus realised on sale of discarded machinery was examined for tax treatment under Section 10(2A) and the second proviso to Section 10(2)(vii) of the Indian Income-tax Act, 1922. The analysis states that Section 10(2A) did not apply because the sale surplus was not a loss, expenditure, or trading liability attributable to depreciation allowed in earlier years, and the second proviso to Section 10(2)(vii) depended on the machinery being used in the relevant year of sale. The record also contained evidence, including the assessee's statement and a letter to the Income-tax Officer, supporting the finding that the machinery was not used in the year of sale. Case-Laws Income Tax Mon, 31 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37890