https://www.taxtmi.com/caselaws?id=64462 The Tribunal partially allowed the appeal, ruling that the compensation received from the insurance company was not taxable under sections 41(2) or 45 of the I.T. Act. However, the claim for the terminal allowance deduction under section 32(1)(iii) was rejected as the equipment was not sold, discarded, demolished, or destroyed. The deduction disallowed under section 40A(3) was also rejected. en-us Thu, 20 Sep 1990 00:00:00 +0530 Tue, 08 Feb 2011 10:29:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64462 The Tribunal partially allowed the appeal, ruling that the compensation received from the insurance company was not taxable under sections 41(2) or 45 of the I.T. Act. However, the claim for the terminal allowance deduction under section 32(1)(iii) was rejected as the equipment was not sold, discarded, demolished, or destroyed. The deduction disallowed under section 40A(3) was also rejected. Case-Laws Income Tax Thu, 20 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64462