2005 (2) TMI 863 - HC - Income Tax

Summary

The Bombay High Court ruled in favor of the assessee on two questions: 1) Disallowable expenditure under Rule 6D should be computed considering all tours by an employee in a year, not individual tours. 2) The assessee is entitled to investment allowance under section 32A for plant and machinery leased. The judgments cited were CIT v. Aorow India Ltd. (1998) 229 ITR 325 and CIT v. Shaan Finance (P) Ltd. (1998) 231 ITR 308.