2007 (8) TMI 256

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....dated May 6, 1999, passed by the Income-tax Appellate Tribunal, Agra Bench, Agra, in I. T. A. No.4747(Delhi) of 1991. 2. The assessment year involved is 1989-90. The assessee is maintaining its accounts in the mercantile system of accounting. It has purchased two machineries worth Rs. 3,35,806. The purchases were made through bills dated July 30, 1988 and December 15, 1988. The machinery purchase....