https://www.taxtmi.com/caselaws?id=171508 The High Court upheld the Tribunal's decision not to refer questions to the High Court under Section 256(2) of the IT Act, 1961. It affirmed that the machinery was used for business purposes, supporting the allowance of depreciation and investment despite uncertainties regarding the commencement of commercial production. The judgment emphasized the importance of factual findings in determining eligibility for deductions, ultimately rejecting the reference case. en-us Tue, 09 May 2006 00:00:00 +0530 Wed, 22 Jul 2015 09:30:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171508 The High Court upheld the Tribunal's decision not to refer questions to the High Court under Section 256(2) of the IT Act, 1961. It affirmed that the machinery was used for business purposes, supporting the allowance of depreciation and investment despite uncertainties regarding the commencement of commercial production. The judgment emphasized the importance of factual findings in determining eligibility for deductions, ultimately rejecting the reference case. Case-Laws Income Tax Tue, 09 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171508