https://www.taxtmi.com/caselaws?id=59150 The tribunal dismissed the appeal, affirming the decisions of the tax authorities regarding the disallowance of investment allowance on machineries and certain expenditures under section 40(c) of the Income-tax Act, 1961. The tribunal held that the investment allowance was not applicable as the equipment did not lead to the production of any tangible output, and the expenditures were disallowed under section 40(c) due to the amenity provided to a director-employee. en-us Wed, 28 Aug 1991 00:00:00 +0530 Sat, 25 Dec 2010 12:47:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59150 The tribunal dismissed the appeal, affirming the decisions of the tax authorities regarding the disallowance of investment allowance on machineries and certain expenditures under section 40(c) of the Income-tax Act, 1961. The tribunal held that the investment allowance was not applicable as the equipment did not lead to the production of any tangible output, and the expenditures were disallowed under section 40(c) due to the amenity provided to a director-employee. Case-Laws Income Tax Wed, 28 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59150