https://www.taxtmi.com/caselaws?id=64751 The Tribunal upheld the CIT (A)'s order, dismissing the Revenue's appeal. It was determined that the assessee sold scrap and not the machinery, thus the withdrawal of investment allowance under Section 155(4A) was deemed unjustified. The Tribunal emphasized that Section 155(4A) does not apply when machinery is sold as scrap due to circumstances beyond the assessee's control, in line with the legislative intent to prevent misuse of investment allowance benefits. en-us Thu, 10 Aug 1989 00:00:00 +0530 Wed, 09 Feb 2011 16:19:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64751 The Tribunal upheld the CIT (A)'s order, dismissing the Revenue's appeal. It was determined that the assessee sold scrap and not the machinery, thus the withdrawal of investment allowance under Section 155(4A) was deemed unjustified. The Tribunal emphasized that Section 155(4A) does not apply when machinery is sold as scrap due to circumstances beyond the assessee's control, in line with the legislative intent to prevent misuse of investment allowance benefits. Case-Laws Income Tax Thu, 10 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64751