https://www.taxtmi.com/caselaws?id=9867 The Tribunal upheld the investment allowance on calculators and factory cleaning machines, considering them as plant and machinery. However, the Tribunal's decision to base the investment allowance on the actual cost of assets without considering exchange rate fluctuations was deemed incorrect. Additionally, the Tribunal's denial of investment allowance on increased costs due to currency depreciation and on canteen equipment and water coolers was also overturned in favor of the assessee. Consequently, all issues were resolved in favor of the assessee, and the reference was disposed of with no order as to costs. en-us Fri, 07 Oct 2005 00:00:00 +0530 Thu, 02 Jul 2009 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9867 The Tribunal upheld the investment allowance on calculators and factory cleaning machines, considering them as plant and machinery. However, the Tribunal's decision to base the investment allowance on the actual cost of assets without considering exchange rate fluctuations was deemed incorrect. Additionally, the Tribunal's denial of investment allowance on increased costs due to currency depreciation and on canteen equipment and water coolers was also overturned in favor of the assessee. Consequently, all issues were resolved in favor of the assessee, and the reference was disposed of with no order as to costs. Case-Laws Income Tax Fri, 07 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9867