2004 (10) TMI 602

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..... f Income-tax, Cochin has filed this appeal against the order of the Income-tax Appellate Tribunal, Cochin Bench in I.T. Apples. No. 658/Coch./95 dated 30-09-1999. 2. The question of law which has been raised by the appellant in this case as follows:- 1. Whether, on the facts and in the circumstances of the case and since the machinery had not been put to use even for a day in the entire prev .....

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..... ser is to be applied only in the year of purchase i.e. when the new asset is first put to use. Subsequently, on its merger into the Block of Assets, depreciation is allowable irrespective of the fact whether individual items in the Block has been put to use or not. 4. Since this matter was not considered by the Tribunal, according to us, the entire matter has to be heard by the Tribunal. Hence .....

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