https://www.taxtmi.com/caselaws?id=63476 The Tribunal allowed the appeal, holding that the assessee met all conditions of section 32AB by utilizing profits for acquiring machinery in the relevant year, entitling them to a deduction on the total amount utilized during the previous year. The Tribunal emphasized a liberal construction of the provision to encourage investment in machinery, contrary to the technical interpretation adopted by revenue authorities and the CIT(A). The deduction was granted on the total sum of Rs. 1,85,737 utilized during the relevant previous year. en-us Mon, 10 Mar 1997 00:00:00 +0530 Mon, 31 Jan 2011 11:49:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63476 The Tribunal allowed the appeal, holding that the assessee met all conditions of section 32AB by utilizing profits for acquiring machinery in the relevant year, entitling them to a deduction on the total amount utilized during the previous year. The Tribunal emphasized a liberal construction of the provision to encourage investment in machinery, contrary to the technical interpretation adopted by revenue authorities and the CIT(A). The deduction was granted on the total sum of Rs. 1,85,737 utilized during the relevant previous year. Case-Laws Income Tax Mon, 10 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63476