https://www.taxtmi.com/caselaws?id=190978 The High Court of Madras ruled in favor of the assessee on both issues. The Court found that certain machinery items like welding sets, platform scales, and electric motors were eligible for investment allowance due to their nexus with business activities. However, the claim for investment allowance on car washers was rejected. Additionally, expenditure on black-topping and contribution to improvement and development were considered revenue expenditure beneficial to the business, contrary to the Revenue's argument. The judgment highlighted the broader interpretation of 'business' in investment allowance claims beyond direct manufacturing or mining activities. en-us Thu, 11 Jun 1998 00:00:00 +0530 Wed, 15 Mar 2017 17:04:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190978 The High Court of Madras ruled in favor of the assessee on both issues. The Court found that certain machinery items like welding sets, platform scales, and electric motors were eligible for investment allowance due to their nexus with business activities. However, the claim for investment allowance on car washers was rejected. Additionally, expenditure on black-topping and contribution to improvement and development were considered revenue expenditure beneficial to the business, contrary to the Revenue's argument. The judgment highlighted the broader interpretation of 'business' in investment allowance claims beyond direct manufacturing or mining activities. Case-Laws Income Tax Thu, 11 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190978