1928 (2) TMI 3

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....he Income-tax Commissioner in the following terms:- (a) Do the words "used for the purposes of the business:, which occur in section 10 (2) (iv) of the Income-tax Act and admittedly govern section 10 (2) (vi), mean that an allowance for depreciation is inadmissible in respect of buildings, machinery, plant or furniture not actually used by the assessee in his business during the accounting y....

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....ction 10, which deals with this matter, there is no distinct reference to the period, but where an allowance has to be made which covers a longer period, or which may only be ascertainable in a later year, a definite proviso is inserted is inserted to meet the case. The machinery in question regarding which a deduction was claimed was not for the purposes of the business during the year in questio....

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....inery can only be made regarding machinery actually discarded in the accounting year. When applying to the Commissioner for a reference under section 66 (2) the petitioners claimed the reference to three other questions, all of which the Commissioner declined to refer and gave his reasons at length for doing so. The time limit prescribed for action under section66 (3) has expired and counsel cont....