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2003 (2) TMI 50 - HC - Income TaxWhether, Tribunal was right in law in confirming the order of the Commissioner of Income tax (Appeals) in directing the Assessing Officer to allow the claim of the assessee under section 32AB of the Income-tax Act, 1961, in spite of the fact that the assessee had failed to furnish the prescribed particulars of machineries and also the audit account under section 32AB(5) in support of its claim? - Whether, Tribunal was right in law in confirming the findings of the Commissioner of Income-tax (Appeals) that capitalization of certain machineries amounted to purchase of machineries and hence the same were eligible for deduction under section 32AB of the Income-tax Act, 1961? - Whether, Tribunal was right in law in confirming the order of the Commissioner (Appeals) in holding that deduction under section 80-I will be available to the assessee in spite of the fact that the unit started manufacturing prior to April 1, 1988? - we answer the said question in the affirmative, i.e., in favour of the assessee and against the Department.
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