https://www.taxtmi.com/caselaws?id=275373 The appeal regarding the entitlement to investment allowance on increased plant and machinery costs due to foreign exchange rate fluctuations was allowed by the Tribunal. Relying on the precedent set by the Gujarat High Court, the Tribunal held that investment allowance could be claimed on the adjusted cost resulting from currency fluctuations. The decision emphasized the importance of adjusted costs in determining investment allowance eligibility, aligning with established legal principles. The dismissal of the appeal affirmed the consistency in applying tax laws related to investment allowances and foreign exchange rate impacts on asset costs. en-us Wed, 23 Aug 2006 00:00:00 +0530 Sat, 29 Sep 2018 10:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275373 The appeal regarding the entitlement to investment allowance on increased plant and machinery costs due to foreign exchange rate fluctuations was allowed by the Tribunal. Relying on the precedent set by the Gujarat High Court, the Tribunal held that investment allowance could be claimed on the adjusted cost resulting from currency fluctuations. The decision emphasized the importance of adjusted costs in determining investment allowance eligibility, aligning with established legal principles. The dismissal of the appeal affirmed the consistency in applying tax laws related to investment allowances and foreign exchange rate impacts on asset costs. Case-Laws Income Tax Wed, 23 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275373