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2008 (6) TMI 77 - HC - Income TaxImport of machinery – agreement entered into by the assessee with foreign manufacturer made provision for escalation of the cost – addition amount was paid in accordance with that clause – such additional amount was part of actual cost of the assessee in the relevant A.Y. - For the purposes of section 32A, the actual cost of the assessee has to be computed in each A.Y. – hence assessee was entitled to investment allowance on such cost – sections 32A & 43(1) should be interpreted liberally
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