https://www.taxtmi.com/caselaws?id=13454 The High Court ruled against the assessee, stating that the machinery was not capable of being used during the relevant assessment year for investment allowance eligibility under section 32A of the Income-tax Act, 1961. The Court emphasized the importance of functional capability and completion of installation, highlighting that the machinery must be able to produce the intended yield to qualify for the investment allowance. Consequently, the decision favored the Revenue, with no costs incurred. en-us Fri, 10 Nov 2006 00:00:00 +0530 Fri, 29 May 2009 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13454 The High Court ruled against the assessee, stating that the machinery was not capable of being used during the relevant assessment year for investment allowance eligibility under section 32A of the Income-tax Act, 1961. The Court emphasized the importance of functional capability and completion of installation, highlighting that the machinery must be able to produce the intended yield to qualify for the investment allowance. Consequently, the decision favored the Revenue, with no costs incurred. Case-Laws Income Tax Fri, 10 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13454