https://www.taxtmi.com/caselaws?id=15489 The High Court ruled in favor of the assessee, upholding the entitlement to investment allowance on the computer installed and rejecting the applicability of section 41(2) of the Income-tax Act for the insurance claim related to assets destroyed by fire. The court emphasized the contractual obligation of the insurance company to repair and reinstate the assets rather than making a monetary payment, leading to the decision that section 41(2) did not apply. The judgment provided a thorough analysis of legal provisions and factual circumstances, ultimately supporting the assessee's position on both issues. en-us Thu, 23 Sep 1999 00:00:00 +0530 Tue, 25 Aug 2009 15:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15489 The High Court ruled in favor of the assessee, upholding the entitlement to investment allowance on the computer installed and rejecting the applicability of section 41(2) of the Income-tax Act for the insurance claim related to assets destroyed by fire. The court emphasized the contractual obligation of the insurance company to repair and reinstate the assets rather than making a monetary payment, leading to the decision that section 41(2) did not apply. The judgment provided a thorough analysis of legal provisions and factual circumstances, ultimately supporting the assessee's position on both issues. Case-Laws Income Tax Thu, 23 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15489