https://www.taxtmi.com/caselaws?id=18253 The High Court upheld the depreciation claim for drilling equipment, granting 30% depreciation based on previous judgments. However, the court denied eligibility for tax relief under sections 80J, 80HH, and 80HHA, aligning with a recent Supreme Court decision that excluded new machinery for bore-wells from investment allowance benefits. The judgment differentiated between the two issues, ruling in favor of the assessee on depreciation but in favor of the Revenue on tax relief eligibility, emphasizing legal precedents and interpretations of tax provisions. en-us Thu, 23 Mar 1995 00:00:00 +0530 Tue, 29 Sep 2009 16:53:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18253 The High Court upheld the depreciation claim for drilling equipment, granting 30% depreciation based on previous judgments. However, the court denied eligibility for tax relief under sections 80J, 80HH, and 80HHA, aligning with a recent Supreme Court decision that excluded new machinery for bore-wells from investment allowance benefits. The judgment differentiated between the two issues, ruling in favor of the assessee on depreciation but in favor of the Revenue on tax relief eligibility, emphasizing legal precedents and interpretations of tax provisions. Case-Laws Income Tax Thu, 23 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18253