2007 (4) TMI 125

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....er of the Income-tax Appellate Tribunal in I. T. A. No. 913/Mds/94 dated March 17, 2003, raising the following substantial questions of law: "(a) Whether, on the facts and circumstances of the case, the Tribunal was right in holding that investment allowance/depreciation can be taken on the additional customs duty paid during the year in respect of machinery imported and installed in an earlier....

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....ioner, the assessee preferred an appeal before the Income-tax Appellate Tribunal claiming investment allowance and depreciation allowance on the ground that the payment of additional customs duty in respect of goods imported earlier ought to be added to .the value of the goods. The Tribunal allowed the claim of the assessee towards investment and depreciation allowance holding that the payment of ....