https://www.taxtmi.com/caselaws?id=63576 The Tribunal held that the assessee is entitled to deductions under section 32AB for raw-material and labor charges used for fabricating new machinery, for additions to existing machinery, and under certain conditions, for the purchase of components and spare parts. The decision emphasizes a liberal and purposive interpretation of tax provisions to promote industrial growth. The case was referred back to the regular Bench for further proceedings based on these findings. en-us Wed, 03 Dec 2003 00:00:00 +0530 Mon, 31 Jan 2011 18:12:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63576 The Tribunal held that the assessee is entitled to deductions under section 32AB for raw-material and labor charges used for fabricating new machinery, for additions to existing machinery, and under certain conditions, for the purchase of components and spare parts. The decision emphasizes a liberal and purposive interpretation of tax provisions to promote industrial growth. The case was referred back to the regular Bench for further proceedings based on these findings. Case-Laws Income Tax Wed, 03 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63576