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2002 (8) TMI 56 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, and on a proper construction of section 43B of the Income-tax Act, 1961, the assessee is entitled to a revenue deduction in respect of customs and excise duty component of the value of the closing stock?" - We, therefore, answer the question referred to us at the instance of the assessee against the assessee, and in favour of the Revenue. - "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that investment allowance in respect of the incremental cost of the machinery, necessitated by the fluctuation in foreign exchange rates is allowable to the assessee in the respective years in which such cost arose?" - The second question referred to us is, therefore, answered in favour of the assessee and, against the Revenue.
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