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2010 (8) TMI 252 - GAUHATI HIGH COURTRectification of mistakes - Investment allowance – it is therefore clear that under the provisions of the Act the assessee is entitled to create the reserve fund within the period of eight assessment years following the installation of the plant and machinery solong it had earned profits in any of the said subsequent assessment years - As the Assessing Officer in the present case had failed to so act there can be no manner of doubt that the order of the authorities dis-allowing investment allowance to the assessee for the assessment year inquest ion was not justified in law As the very approach of the Assessing Officer was contrary to the provisions of the Act the answer to the second question raised stands self-answered by our conclusions reached on the first question framed in the appeal – Decided in favor of the assessee
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