https://www.taxtmi.com/caselaws?id=59147 The tribunal upheld the decisions of the assessing officer and CIT (A) in denying the assessee's deduction claim as a small scale industrial undertaking under section 35B. It ruled that the exclusion of tools and moulds was not permissible in determining the aggregate value of plant and machinery. Additionally, vehicles were deemed part of 'plant,' and assets categorized as 'tools, jigs, dies, and moulds' were correctly classified as machinery. The tribunal rejected the appeal on the valuation date of plant and machinery and upheld the disallowance of festival-related expenses, resulting in the dismissal of the appeal. en-us Mon, 01 Apr 1991 00:00:00 +0530 Sat, 03 Sep 2011 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59147 The tribunal upheld the decisions of the assessing officer and CIT (A) in denying the assessee's deduction claim as a small scale industrial undertaking under section 35B. It ruled that the exclusion of tools and moulds was not permissible in determining the aggregate value of plant and machinery. Additionally, vehicles were deemed part of 'plant,' and assets categorized as 'tools, jigs, dies, and moulds' were correctly classified as machinery. The tribunal rejected the appeal on the valuation date of plant and machinery and upheld the disallowance of festival-related expenses, resulting in the dismissal of the appeal. Case-Laws Income Tax Mon, 01 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59147