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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Investment in new plant or machinery deduction provides phased allowance subject to recapture if assets disposed within limited period.</h1> Section 32AC allows companies in manufacturing that acquire and install qualifying new plant or machinery within the specified window and whose aggregate cost exceeds the statutory threshold to claim a phased deduction of a fixed percentage of actual cost across two assessment years, with the second-year amount reduced by any first-year deduction. If a qualifying asset is transferred or sold within a limited period after installation, the earlier deduction is recaptured as business income, subject to special treatment on amalgamation or demerger; several categories of assets are expressly excluded from the definition of 'new asset.'

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