https://www.taxtmi.com/caselaws?id=202876 The court ruled in favor of the revenue, holding that the assessee was not entitled to deductions under sections 80HH and 80-I of the Income-tax Act as the machinery was not considered new and had been installed in the previous assessment year. The Tribunal's decision to grant relief was overturned, and it was concluded that the Assessing Officer was justified in denying the deductions due to the old machinery's value exceeding 20% of the total machinery value. en-us Thu, 07 Apr 2011 00:00:00 +0530 Fri, 22 Apr 2011 08:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202876 The court ruled in favor of the revenue, holding that the assessee was not entitled to deductions under sections 80HH and 80-I of the Income-tax Act as the machinery was not considered new and had been installed in the previous assessment year. The Tribunal's decision to grant relief was overturned, and it was concluded that the Assessing Officer was justified in denying the deductions due to the old machinery's value exceeding 20% of the total machinery value. Case-Laws Income Tax Thu, 07 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202876