https://www.taxtmi.com/caselaws?id=461387 ITAT Delhi dismissed Revenue's appeal challenging investment allowance u/s 32AC for power generation business. The Tribunal held that electricity generation constitutes manufacture or production of an article, qualifying for deduction u/s 32AC. Decision relied on established precedents from ITAT Pune and Madras HC confirming this principle. The Tribunal upheld CIT(A)'s order allowing the investment allowance claim, noting no contrary decisions from jurisdictional HC were presented by Revenue. en-us Thu, 15 Sep 2022 00:00:00 +0530 Thu, 03 Apr 2025 19:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461387 ITAT Delhi dismissed Revenue's appeal challenging investment allowance u/s 32AC for power generation business. The Tribunal held that electricity generation constitutes manufacture or production of an article, qualifying for deduction u/s 32AC. Decision relied on established precedents from ITAT Pune and Madras HC confirming this principle. The Tribunal upheld CIT(A)'s order allowing the investment allowance claim, noting no contrary decisions from jurisdictional HC were presented by Revenue. Case-Laws Income Tax Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461387