https://www.taxtmi.com/caselaws?id=23473 The High Court of Kerala ruled in a case involving the interpretation of section 43(1) of the Income-tax Act that the remission of liability by Atlanta Corporation did not reduce the cost of machinery for the assessee for income tax purposes. The court held that Atlanta Corporation's remission did not diminish the machinery's cost and favored the assessee in the matter. The judgment was to be sent to the Income-tax Appellate Tribunal, Cochin Bench. en-us Thu, 26 Oct 1989 00:00:00 +0530 Sat, 19 Dec 2009 15:24:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23473 The High Court of Kerala ruled in a case involving the interpretation of section 43(1) of the Income-tax Act that the remission of liability by Atlanta Corporation did not reduce the cost of machinery for the assessee for income tax purposes. The court held that Atlanta Corporation's remission did not diminish the machinery's cost and favored the assessee in the matter. The judgment was to be sent to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Thu, 26 Oct 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23473