https://www.taxtmi.com/caselaws?id=16700 The High Court of Karnataka ruled in favor of the assessee in a case concerning the interpretation of section 32A of the Income-tax Act. The court held that the assessee, engaged in leasing machinery, was entitled to investment allowance and extra shift allowance as the machinery was used for business purposes. The court emphasized the need for clear statutory provisions and resolved doubts in favor of the taxpayer. Citing relevant precedents and provisions of the Income-tax Act, the court concluded in favor of the assessee on both issues, with no order as to costs. en-us Mon, 09 Jun 1997 00:00:00 +0530 Wed, 09 Sep 2009 15:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16700 The High Court of Karnataka ruled in favor of the assessee in a case concerning the interpretation of section 32A of the Income-tax Act. The court held that the assessee, engaged in leasing machinery, was entitled to investment allowance and extra shift allowance as the machinery was used for business purposes. The court emphasized the need for clear statutory provisions and resolved doubts in favor of the taxpayer. Citing relevant precedents and provisions of the Income-tax Act, the court concluded in favor of the assessee on both issues, with no order as to costs. Case-Laws Income Tax Mon, 09 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16700