https://www.taxtmi.com/caselaws?id=432146 The Tribunal upheld the Commissioner's decision to allow the claimed investment allowance under section 32AC(1A) of the Income Tax Act, 1961. The Revenue's challenge was dismissed, and the Assessing Officer was directed to delete the disallowed deduction. The Tribunal emphasized the assessee's compliance with statutory requirements and the beneficial nature of section 32AC in granting the deduction for the installation of new plant and machinery. en-us Mon, 12 Dec 2022 00:00:00 +0530 Wed, 28 Dec 2022 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432146 The Tribunal upheld the Commissioner's decision to allow the claimed investment allowance under section 32AC(1A) of the Income Tax Act, 1961. The Revenue's challenge was dismissed, and the Assessing Officer was directed to delete the disallowed deduction. The Tribunal emphasized the assessee's compliance with statutory requirements and the beneficial nature of section 32AC in granting the deduction for the installation of new plant and machinery. Case-Laws Income Tax Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432146