https://www.taxtmi.com/caselaws?id=241234 The Appellate Tribunal ITAT Chandigarh upheld the decision of the Ld. CIT(A) in allowing a deduction under section 80IC of the Income Tax Act, which was initially disallowed by the Assessing Officer. The case centered on whether machinery claimed for deduction was previously used, with the Tribunal accepting affidavits and bills of lading as evidence that the imported machinery had not been used in India before installation by the assessee. The Tribunal emphasized that machinery used abroad by a third party would not be considered previously used for deduction purposes, ultimately dismissing the Revenue's appeal and affirming the assessee's eligibility for the deduction. en-us Fri, 18 Oct 2013 00:00:00 +0530 Mon, 09 Dec 2013 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241234 The Appellate Tribunal ITAT Chandigarh upheld the decision of the Ld. CIT(A) in allowing a deduction under section 80IC of the Income Tax Act, which was initially disallowed by the Assessing Officer. The case centered on whether machinery claimed for deduction was previously used, with the Tribunal accepting affidavits and bills of lading as evidence that the imported machinery had not been used in India before installation by the assessee. The Tribunal emphasized that machinery used abroad by a third party would not be considered previously used for deduction purposes, ultimately dismissing the Revenue's appeal and affirming the assessee's eligibility for the deduction. Case-Laws Income Tax Fri, 18 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241234