https://www.taxtmi.com/caselaws?id=15073 The court denied the additional depreciation claim for machinery leased to approved hotels, aligning with the requirement for machinery usage in an approved hotel for extra depreciation. Cash payments to employees, including reimbursements, were not considered perquisites under section 40A(5). The assessee was entitled to investment allowance for leased machinery despite not using it in any industry. Investment allowance was allowed for machinery owned and leased out for manufacturing purposes, even without engaging in manufacturing activities. The assessee was confirmed eligible for investment allowance under section 32A(5) based on established legal principles and precedents. en-us Thu, 02 Jul 1998 00:00:00 +0530 Thu, 30 Jul 2009 14:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15073 The court denied the additional depreciation claim for machinery leased to approved hotels, aligning with the requirement for machinery usage in an approved hotel for extra depreciation. Cash payments to employees, including reimbursements, were not considered perquisites under section 40A(5). The assessee was entitled to investment allowance for leased machinery despite not using it in any industry. Investment allowance was allowed for machinery owned and leased out for manufacturing purposes, even without engaging in manufacturing activities. The assessee was confirmed eligible for investment allowance under section 32A(5) based on established legal principles and precedents. Case-Laws Income Tax Thu, 02 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15073