1999 (3) TMI 45 - HC - Income Tax

Summary

The High Court of Gauhati ruled that tractors used as agricultural machinery are entitled to additional depreciation and investment allowance under section 32A of the Income-tax Act, 1961. The court's decision aligned with a previous ruling on the classification of tractors as motor vehicles rather than road transport vehicles. The Tribunal's decision was upheld, affirming the eligibility of tractors for the mentioned benefits.