https://www.taxtmi.com/caselaws?id=70406 The Tribunal dismissed the Revenue's appeals, affirming the inclusion of the fine and penalty paid for improper importation in the calculation of the actual cost of the imported machinery for depreciation and investment allowance purposes. The decision allowed the assessee to capitalize the total amount of fine and penalty as part of the asset's cost for income tax purposes, entitling them to depreciation and investment allowance based on the included sum. en-us Mon, 27 Aug 1990 00:00:00 +0530 Sat, 16 Apr 2011 10:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70406 The Tribunal dismissed the Revenue's appeals, affirming the inclusion of the fine and penalty paid for improper importation in the calculation of the actual cost of the imported machinery for depreciation and investment allowance purposes. The decision allowed the assessee to capitalize the total amount of fine and penalty as part of the asset's cost for income tax purposes, entitling them to depreciation and investment allowance based on the included sum. Case-Laws Income Tax Mon, 27 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70406