https://www.taxtmi.com/caselaws?id=255958 The court upheld the Income Tax Appellate Tribunal's decision in favor of the assessee company for the Assessment Year 1986-87. It affirmed the eligibility of the company for investment allowance on specific items essential for manufacturing activities, such as Molasses storage tank, molasses pump, weigh bridge, and diesel generating sets, considering them as 'Plant and Machinery'. The court also allowed the deduction of market fee amounting to Rs. 11,55,809, following legal precedents. Consequently, both issues were decided in favor of the assessee, leading to the dismissal of the Department's appeal. en-us Fri, 23 Jan 2015 00:00:00 +0530 Sat, 31 Jan 2015 13:02:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255958 The court upheld the Income Tax Appellate Tribunal's decision in favor of the assessee company for the Assessment Year 1986-87. It affirmed the eligibility of the company for investment allowance on specific items essential for manufacturing activities, such as Molasses storage tank, molasses pump, weigh bridge, and diesel generating sets, considering them as 'Plant and Machinery'. The court also allowed the deduction of market fee amounting to Rs. 11,55,809, following legal precedents. Consequently, both issues were decided in favor of the assessee, leading to the dismissal of the Department's appeal. Case-Laws Income Tax Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255958