https://www.taxtmi.com/caselaws?id=255826 The Supreme Court upheld the Tribunal's decision to allow the deduction of obsolescence charges for non-moving imported spare parts. However, the deduction of guest house expenses was disallowed as it contravened Section 37(4) of the Income Tax Act. The eligibility of telephone equipment for investment allowance under Section 32A was upheld, with the Tribunal's decision being affirmed. Overall, the Tribunal's findings were mostly upheld, except for the disallowance of guest house expenses. en-us Fri, 28 Nov 2014 00:00:00 +0530 Wed, 28 Jan 2015 06:33:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255826 The Supreme Court upheld the Tribunal's decision to allow the deduction of obsolescence charges for non-moving imported spare parts. However, the deduction of guest house expenses was disallowed as it contravened Section 37(4) of the Income Tax Act. The eligibility of telephone equipment for investment allowance under Section 32A was upheld, with the Tribunal's decision being affirmed. Overall, the Tribunal's findings were mostly upheld, except for the disallowance of guest house expenses. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255826