https://www.taxtmi.com/caselaws?id=10179 The court ruled in favor of the assessee regarding the inclusion of machinery cost as capital employed under section 80J of the Income-tax Act. The court determined that the machinery gifted by the Government of Australia became an asset of the assessee, not a liability. However, the court did not address the disallowance of entertainment expenditure under section 37(2B) as it found that the expenditure in question could not be categorized as entertainment expenditure. No costs were awarded in this disposition. en-us Thu, 29 Jul 2004 00:00:00 +0530 Fri, 10 Jul 2009 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10179 The court ruled in favor of the assessee regarding the inclusion of machinery cost as capital employed under section 80J of the Income-tax Act. The court determined that the machinery gifted by the Government of Australia became an asset of the assessee, not a liability. However, the court did not address the disallowance of entertainment expenditure under section 37(2B) as it found that the expenditure in question could not be categorized as entertainment expenditure. No costs were awarded in this disposition. Case-Laws Income Tax Thu, 29 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10179