https://www.taxtmi.com/caselaws?id=217737 The High Court ruled in favor of the assessee regarding the entitlement to claim investment allowance under Section 32-A for increased asset costs due to foreign exchange fluctuations in subsequent years. The court also held that Section 80 HHC should be computed independently of Section 80 AB when calculating book profits under Section 115-J. However, the court decided that interest under Sections 234-B and 234-C is applicable to companies under MAT provisions. The appeal was partly allowed, with questions 1, 2, 3, and 4 favoring the assessee and question 5 favoring the revenue. en-us Tue, 16 Oct 2012 00:00:00 +0530 Thu, 10 Jan 2013 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217737 The High Court ruled in favor of the assessee regarding the entitlement to claim investment allowance under Section 32-A for increased asset costs due to foreign exchange fluctuations in subsequent years. The court also held that Section 80 HHC should be computed independently of Section 80 AB when calculating book profits under Section 115-J. However, the court decided that interest under Sections 234-B and 234-C is applicable to companies under MAT provisions. The appeal was partly allowed, with questions 1, 2, 3, and 4 favoring the assessee and question 5 favoring the revenue. Case-Laws Income Tax Tue, 16 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217737