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2005 (10) TMI 75 - HC - Income TaxBenefit of investment allowance on the increased loan liability consequent upon the depreciation of the Indian currency in the foreign exchange market. - held that Tribunal erred in holding that the investment allowance was not allowable on the increase in the original cost of imported assets due to increase in the assessee's loan liability consequent to the depreciation in the value of Indian currency in foreign exchange - Whether Tribunal erred in not accepting the claim of the assessee that canteen equipment and water coolers are a part of plant and machinery and that, therefore, the assessee was entitled to investment allowance on the same?" – this question is answered in the affirmative in favour of the assessee
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