https://www.taxtmi.com/caselaws?id=11597 The court ruled in favor of the assessee regarding the entitlement to investment allowance under section 32A of the Act for machinery leased out in the business of leasing, citing a previous Supreme Court decision. Additionally, the court held that the expenditure on advertisements inviting fixed deposits from the public was allowable business expenditure as it complied with statutory requirements under the Companies Act, rejecting the Revenue's argument that it constituted sales promotion expenses under section 37(3A) of the Income-tax Act. The judgment extensively analyzed relevant legal provisions, case law, and tax authority circulars to reach a fair outcome supporting the assessee. en-us Mon, 25 Nov 2002 00:00:00 +0530 Sun, 31 Jan 2010 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11597 The court ruled in favor of the assessee regarding the entitlement to investment allowance under section 32A of the Act for machinery leased out in the business of leasing, citing a previous Supreme Court decision. Additionally, the court held that the expenditure on advertisements inviting fixed deposits from the public was allowable business expenditure as it complied with statutory requirements under the Companies Act, rejecting the Revenue's argument that it constituted sales promotion expenses under section 37(3A) of the Income-tax Act. The judgment extensively analyzed relevant legal provisions, case law, and tax authority circulars to reach a fair outcome supporting the assessee. Case-Laws Income Tax Mon, 25 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11597