https://www.taxtmi.com/caselaws?id=19715 The High Court held that old machinery previously used in India, even if purchased from the open market, did not qualify for deduction under section 80J(4)(ii) of the Income-tax Act. The Court emphasized that machinery must not have been used in India for any business purpose to be eligible for the deduction. The decision reinforced the strict interpretation of the law to ensure compliance with statutory provisions, denying the assessee's claim for deduction and upholding the Revenue's position on the matter. en-us Wed, 06 Apr 1994 00:00:00 +0530 Mon, 09 Nov 2009 11:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19715 The High Court held that old machinery previously used in India, even if purchased from the open market, did not qualify for deduction under section 80J(4)(ii) of the Income-tax Act. The Court emphasized that machinery must not have been used in India for any business purpose to be eligible for the deduction. The decision reinforced the strict interpretation of the law to ensure compliance with statutory provisions, denying the assessee's claim for deduction and upholding the Revenue's position on the matter. Case-Laws Income Tax Wed, 06 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19715