https://www.taxtmi.com/caselaws?id=19024 The court held that assessees were entitled to claim investment allowance under section 32A for machinery or plant hired out to others. The court also ruled in favor of assessees regarding entitlement to initial depreciation for machinery leased out. However, the court denied the claim for investment allowance for a bulldozer used in the business of hiring out machinery. The validity of reopening assessments under section 147(b) was not addressed due to the favorable decisions on the common questions. The court ruled against the Revenue in most instances, with no costs awarded. en-us Tue, 12 Sep 1995 00:00:00 +0530 Mon, 30 Nov 2015 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19024 The court held that assessees were entitled to claim investment allowance under section 32A for machinery or plant hired out to others. The court also ruled in favor of assessees regarding entitlement to initial depreciation for machinery leased out. However, the court denied the claim for investment allowance for a bulldozer used in the business of hiring out machinery. The validity of reopening assessments under section 147(b) was not addressed due to the favorable decisions on the common questions. The court ruled against the Revenue in most instances, with no costs awarded. Case-Laws Income Tax Tue, 12 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19024