https://www.taxtmi.com/caselaws?id=13767 The High Court held that the computer system installed in the factory premises of the engineering company qualifies as part of the manufacturing machinery, entitling the company to investment allowance and additional depreciation. The Court distinguished the Tribunal's view that computers used for accounting purposes do not qualify, citing relevant judicial precedents. The decision favored the assessee, allowing the claim for depreciation and investment allowance under the Income Tax Act. en-us Wed, 12 Jul 2006 00:00:00 +0530 Thu, 02 Jul 2009 13:09:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13767 The High Court held that the computer system installed in the factory premises of the engineering company qualifies as part of the manufacturing machinery, entitling the company to investment allowance and additional depreciation. The Court distinguished the Tribunal's view that computers used for accounting purposes do not qualify, citing relevant judicial precedents. The decision favored the assessee, allowing the claim for depreciation and investment allowance under the Income Tax Act. Case-Laws Income Tax Wed, 12 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13767