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2007 (2) TMI 213 - HC - Income TaxOne of the conditions for allowing deduction u/s 32, is that the machinery must have been used for the purposes of the business during the previous year in which the machinery is sold, discarded, demolished or destroyed - There is a concurrent finding of three authorities below, i.e. the Assessing Officer, Commissioner of Income Tax (A) and ITAT to the effect that the machinery was not put to use at all during the relevant previous year – hence depreciation is not entitled
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