https://www.taxtmi.com/caselaws?id=58406 The Appellate Tribunal ruled in favor of the assessee in the Income-tax Act appeal. The Tribunal directed the Income-tax Officer to grant depreciation allowance on assets used for scientific research, emphasizing the close connection between scientific research and business competitiveness. Additionally, the Tribunal allowed the expenditure for shifting the factory, stating it was laid out exclusively for business purposes. However, the claim for provision for gratuity was disallowed as the conditions of the new subsection were not met. The Tribunal addressed the excess interest charged by the Income-tax Officer, partially allowing the appeal and directing rectification if excess interest was charged. en-us Sat, 16 Oct 1976 00:00:00 +0530 Sat, 18 Dec 2010 18:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58406 The Appellate Tribunal ruled in favor of the assessee in the Income-tax Act appeal. The Tribunal directed the Income-tax Officer to grant depreciation allowance on assets used for scientific research, emphasizing the close connection between scientific research and business competitiveness. Additionally, the Tribunal allowed the expenditure for shifting the factory, stating it was laid out exclusively for business purposes. However, the claim for provision for gratuity was disallowed as the conditions of the new subsection were not met. The Tribunal addressed the excess interest charged by the Income-tax Officer, partially allowing the appeal and directing rectification if excess interest was charged. Case-Laws Income Tax Sat, 16 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58406