https://www.taxtmi.com/caselaws?id=151843 The ITAT Mumbai allowed the appeal, condoning a 180-day delay due to a subsequent Supreme Court decision. It directed the AO to revise the 1989-90 assessment, restoring the investment allowance for leased machinery. The ITAT emphasized the assessee's legitimate right to contest the withdrawal of the allowance based on updated legal interpretations. en-us Wed, 19 May 2004 00:00:00 +0530 Tue, 09 Jul 2024 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151843 The ITAT Mumbai allowed the appeal, condoning a 180-day delay due to a subsequent Supreme Court decision. It directed the AO to revise the 1989-90 assessment, restoring the investment allowance for leased machinery. The ITAT emphasized the assessee's legitimate right to contest the withdrawal of the allowance based on updated legal interpretations. Case-Laws Income Tax Wed, 19 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151843