Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (12) TMI 83 - ALLAHABAD HIGH COURTClaim of the assessee for weighted deduction under section 35B - "Whether Tribunal was justified in law in holding that it was obligatory for the assessee to have machinery and plant and that it had failed to establish that it had installed machinery and plant for the purposes of the business of the undertaking within the meaning of clause (2) of the Explanation below sub-section (2) of section 32A of the Income-tax Act, 1961?" - All the three authorities have found that the assessee does not own any plant and machinery - finding of the Tribunal that the assessee is not entitled for the weighted deduction under section 35B of the Act as it did not have any machinery or plant in the relevant assessment year, is correct in view of the provisions of section 35B(1A)
|