https://www.taxtmi.com/caselaws?id=10256 The court ruled in favor of the Revenue, upholding the Tribunal's decision regarding the interpretation of investment allowance provisions under section 32A of the Income-tax Act. It emphasized the entitlement of the co-operative society to claim investment allowance for machinery installation across different years, subject to fulfilling prescribed conditions. The judgment clarified the necessity of creating a reserve for investment allowance, quantifying the allowance, and carrying it forward in subsequent years, citing relevant legal precedents to support its decision. en-us Wed, 28 Jan 2004 00:00:00 +0530 Sat, 11 Jul 2009 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10256 The court ruled in favor of the Revenue, upholding the Tribunal's decision regarding the interpretation of investment allowance provisions under section 32A of the Income-tax Act. It emphasized the entitlement of the co-operative society to claim investment allowance for machinery installation across different years, subject to fulfilling prescribed conditions. The judgment clarified the necessity of creating a reserve for investment allowance, quantifying the allowance, and carrying it forward in subsequent years, citing relevant legal precedents to support its decision. Case-Laws Income Tax Wed, 28 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10256