https://www.taxtmi.com/caselaws?id=255200 The court upheld the Income Tax Appellate Tribunal's decision to allow the assessee's claim for investment allowance for the Assessment Year 1982-83. It was determined that the assessee's intention to start commercial production was evident, despite delays. The court agreed with the Tribunal's reasoning that investment allowance could be claimed in the year of installation or when the machinery is first used. The court found in favor of the assessee, concluding that the claim for investment allowance for assets put to use in 1982-83 was legitimate. en-us Fri, 28 Nov 2014 00:00:00 +0530 Sat, 10 Jan 2015 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255200 The court upheld the Income Tax Appellate Tribunal's decision to allow the assessee's claim for investment allowance for the Assessment Year 1982-83. It was determined that the assessee's intention to start commercial production was evident, despite delays. The court agreed with the Tribunal's reasoning that investment allowance could be claimed in the year of installation or when the machinery is first used. The court found in favor of the assessee, concluding that the claim for investment allowance for assets put to use in 1982-83 was legitimate. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255200