https://www.taxtmi.com/caselaws?id=10279 The court confirmed the Tribunal's decision that investment allowance could not be withdrawn under section 155(4A) for the assessee. The dissolution of the firm did not constitute a transfer of assets under section 32A(5)(a) or (b), and the reserve was utilized for purchasing machinery by the partner who took over the business, meeting the statutory conditions. The judgment favored the assessee, ruling against the Revenue, with no order as to costs. en-us Wed, 15 Dec 2004 00:00:00 +0530 Mon, 13 Jul 2009 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10279 The court confirmed the Tribunal's decision that investment allowance could not be withdrawn under section 155(4A) for the assessee. The dissolution of the firm did not constitute a transfer of assets under section 32A(5)(a) or (b), and the reserve was utilized for purchasing machinery by the partner who took over the business, meeting the statutory conditions. The judgment favored the assessee, ruling against the Revenue, with no order as to costs. Case-Laws Income Tax Wed, 15 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10279