https://www.taxtmi.com/caselaws?id=66639 The tribunal allowed the revenue's appeal, ruling that the unregistered firm leasing out a rice mill was not entitled to investment allowance under section 32A of the Income-tax Act, 1961. The decision was based on the interpretation that the machinery must be wholly used for the assessee's business to claim the allowance, which was not the case here as the machinery was used by the lessee. The tribunal emphasized the need for exclusive use of machinery or plant for the assessee's business to qualify for investment allowance. en-us Tue, 18 Mar 1986 00:00:00 +0530 Sat, 05 Mar 2011 13:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66639 The tribunal allowed the revenue's appeal, ruling that the unregistered firm leasing out a rice mill was not entitled to investment allowance under section 32A of the Income-tax Act, 1961. The decision was based on the interpretation that the machinery must be wholly used for the assessee's business to claim the allowance, which was not the case here as the machinery was used by the lessee. The tribunal emphasized the need for exclusive use of machinery or plant for the assessee's business to qualify for investment allowance. Case-Laws Income Tax Tue, 18 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66639