https://www.taxtmi.com/caselaws?id=2469 The case involved a firm claiming investment allowance on machinery additions for the assessment year 1983-84. The High Court clarified that investment allowance eligibility is based on the year of installation, not utilization, and ruled in favor of the applicant. The court also confirmed a 10% depreciation rate on the electric generator, as it was not specifically listed in applicable rates. The decision favored the assessee for investment allowance entitlement and the Revenue for the depreciation rate, resulting in no costs awarded. en-us Tue, 01 Feb 2005 00:00:00 +0530 Thu, 31 Jul 2008 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2469 The case involved a firm claiming investment allowance on machinery additions for the assessment year 1983-84. The High Court clarified that investment allowance eligibility is based on the year of installation, not utilization, and ruled in favor of the applicant. The court also confirmed a 10% depreciation rate on the electric generator, as it was not specifically listed in applicable rates. The decision favored the assessee for investment allowance entitlement and the Revenue for the depreciation rate, resulting in no costs awarded. Case-Laws Income Tax Tue, 01 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2469