https://www.taxtmi.com/caselaws?id=13354 The High Court upheld the Tribunal's decision against the assessee, ruling that the machinery installed for transport purposes did not meet the criteria for investment allowance under section 32A of the Income-tax Act, 1961. The court found no indication that the machinery was intended for production or assembly of any article or thing, thereby denying the investment allowance claim. The judgment highlighted the importance of meeting the specific requirements outlined in the Act for eligibility for investment allowances, ultimately deciding in favor of the Revenue. en-us Mon, 15 Jan 2007 00:00:00 +0530 Thu, 28 May 2009 13:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13354 The High Court upheld the Tribunal's decision against the assessee, ruling that the machinery installed for transport purposes did not meet the criteria for investment allowance under section 32A of the Income-tax Act, 1961. The court found no indication that the machinery was intended for production or assembly of any article or thing, thereby denying the investment allowance claim. The judgment highlighted the importance of meeting the specific requirements outlined in the Act for eligibility for investment allowances, ultimately deciding in favor of the Revenue. Case-Laws Income Tax Mon, 15 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13354