Depreciation available on machinery even if it is installed for trial run and not for production of

IT : Even though machinery was installed before end of financial year and used only for trial run and not for production, depreciation on machinery would be allowed

CLB directs transfer of shares in name of lender as borrower-co. failed to repay loan taken against

CL : Where respondent company had availed rediscounting facility from petitioner on condition of pledging shares in favour of petitioner, petitioner's claim of transfer of pledged shares in its favour on respondent's failure to repay loan should be allowed

Writ can’t be filed against order of commissioner (appeals) dismissing appeal due to expiry of limit

Service Tax : Time-limit for pursuing appeal before Commissioner (Appeals) is rigid and cannot be extended by Courts; hence, if appeal before Commissioner (Appeals) is dismissed as barred by limitation being beyond his permissible period of condonation, even writ petition cannot be maintained against adjudication order