1.       SOPHISTICATED MARBLES & GRANITE INDUSTRIES (Delhi High Court)

Applying the test formulated by the Supreme Court, this activity   would clearly fall within the definition of, manufacturing process.

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2.   YAMAHA MOTOR INDIA PVT. LTD. (Delhi High Court) [Related to    section 32] 

Actual user of the machinery is not required with respect to   discarded  machinery and the condition for eligibility for depreciation  that the machinery being used for the purpose of the business would mean that the discarded machinery is used for the purpose of the business in the earlier years for which depreciation has been allowed. 

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CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

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CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com