https://www.taxtmi.com/caselaws?id=15178 The High Court affirmed the Tribunal's decision, holding that the assessee was entitled to investment allowance on machinery leased out, despite not using it for publishing newspapers. The Court interpreted section 32A of the Income-tax Act, emphasizing ownership and business use as key conditions for claiming the allowance. It compared section 32A with the former development rebate under section 33, highlighting differences in installation requirements. The Court referenced prior judgments to support its decision, emphasizing that section 32A does not mandate the assessee to use the machinery themselves, as long as it is utilized for business purposes. en-us Wed, 22 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 15:27:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15178 The High Court affirmed the Tribunal's decision, holding that the assessee was entitled to investment allowance on machinery leased out, despite not using it for publishing newspapers. The Court interpreted section 32A of the Income-tax Act, emphasizing ownership and business use as key conditions for claiming the allowance. It compared section 32A with the former development rebate under section 33, highlighting differences in installation requirements. The Court referenced prior judgments to support its decision, emphasizing that section 32A does not mandate the assessee to use the machinery themselves, as long as it is utilized for business purposes. Case-Laws Income Tax Wed, 22 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15178