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2002 (4) TMI 25 - HC - Income Tax"(i) Whether, the cost of plant and machinery under erection as also the cost of building under construction was to be included in the capital base for purposes of deduction under section 80J of the Income-tax Act, 1961?" - "(ii) Whether the assessee is entitled to investment allowance in respect of the amount paid as a result of the fluctuation in exchange rate?" - "(iii) Whether the amount of Rs. 28,79,813 claimed by way of exchange loss consequent to the fluctuation in exchange rate was allowable as a deduction?" - The said question (i) is, therefore, answered in the affirmative against the Revenue and in favour of the assessee. - Question No. (ii) is, therefore, answered in the negative, in favour of the Revenue and against the assessee. Question No. (iii) is accordingly answered against the assessee and in favour of the Revenue.
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