https://www.taxtmi.com/caselaws?id=37891 Section 10(2A) of the Indian Income-tax Act, 1922 applies only where a later receipt is referable to, or in recoupment of, an earlier loss, expenditure or trading liability for which an allowance or deduction was granted. Sale proceeds from machinery not used in the relevant year were held not to fall within that provision because they represented capital realisation on disposal of depreciated assets, not recovery of the earlier depreciation allowance. The separate charging provision for profits on sale of depreciated assets supported this distinction, and the amount was therefore not taxable under Section 10(2A). en-us Wed, 14 Aug 1974 00:00:00 +0530 Thu, 01 Apr 2010 16:22:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37891 Section 10(2A) of the Indian Income-tax Act, 1922 applies only where a later receipt is referable to, or in recoupment of, an earlier loss, expenditure or trading liability for which an allowance or deduction was granted. Sale proceeds from machinery not used in the relevant year were held not to fall within that provision because they represented capital realisation on disposal of depreciated assets, not recovery of the earlier depreciation allowance. The separate charging provision for profits on sale of depreciated assets supported this distinction, and the amount was therefore not taxable under Section 10(2A). Case-Laws Income Tax Wed, 14 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37891