https://www.taxtmi.com/caselaws?id=15357 The court ruled against the firm, denying special depreciation at 30% for rigs and compressors mounted on a lorry used for drilling borewells. It also rejected the entitlement to investment allowance under section 32A(2)(b) for the same assets. The court emphasized that investment allowance is only applicable to machinery used in manufacturing movable articles and goods, not for immovable property construction like borewells. The decision favored the Revenue, citing the Supreme Court's ruling and setting aside previous tribunal orders in favor of the assessee. en-us Wed, 28 Jan 1998 00:00:00 +0530 Thu, 06 Aug 2009 10:53:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15357 The court ruled against the firm, denying special depreciation at 30% for rigs and compressors mounted on a lorry used for drilling borewells. It also rejected the entitlement to investment allowance under section 32A(2)(b) for the same assets. The court emphasized that investment allowance is only applicable to machinery used in manufacturing movable articles and goods, not for immovable property construction like borewells. The decision favored the Revenue, citing the Supreme Court's ruling and setting aside previous tribunal orders in favor of the assessee. Case-Laws Income Tax Wed, 28 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15357