2000 (5) TMI 189

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....fficer to allow the assessee's claim for deduction under section 32AB. 2. The assessee is, an Orthopaedic Surgeon. He filed his return of income on 31-10-1989 claiming deduction of Rs. 57,196 under section 32AB. The Assessing Officer disallowed the claim on the basis that the assessee had not purchased any machinery during the previous year and had paid only an advance of Rs. 80,000 for the pur....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... assessee had to give 2096 of the amount along with confirmed order. As such, this advance amount has to be treated as 'utilisation of the amount for purchase of machinery'. Because, in any case, the final adjustment of the cost of the machinery would be taken into consideration after giving credit to this amount only. Considering all aspects and circumstances of the case, in my opinion, the Asses....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sposed of without any assistance from the assessee, I reject the adjournment application and proceed to decide the appeal on merits, after healing the learned D.R. 6. I have considered the submissions of the learned. D.R. and perused the orders of the authorities below. I have also carefully gone through the relevant provisions of section 32AB(1)(b) which read as under : "utilised any amount....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ardinal principles of interpretation of statutes that unless there is any intention to the contrary, the words in a statute should be given their ordinary meaning. In the instant case, the words used in the statute as reproduced supra are plain and simple and these have to be read in their ordinary meaning. The intention of the statute is very clear, inasmuch as the amount must be utilised in the ....