https://www.taxtmi.com/caselaws?id=15910 The High Court ruled that the amendment to section 32A of the Income-tax Act, 1961 was not retrospective, denying investment allowance for machinery installed before April 1, 1978. It held that once an Income-tax Officer granted investment allowance, it must be carried forward, with legal consequences until lawfully set aside. The court emphasized the binding nature of such orders and rejected the Revenue's arguments, clarifying the interpretation of the amendment and the authority of Income-tax Officers. en-us Thu, 30 Apr 1998 00:00:00 +0530 Sat, 29 Aug 2009 17:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15910 The High Court ruled that the amendment to section 32A of the Income-tax Act, 1961 was not retrospective, denying investment allowance for machinery installed before April 1, 1978. It held that once an Income-tax Officer granted investment allowance, it must be carried forward, with legal consequences until lawfully set aside. The court emphasized the binding nature of such orders and rejected the Revenue's arguments, clarifying the interpretation of the amendment and the authority of Income-tax Officers. Case-Laws Income Tax Thu, 30 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15910