August 2005

Sec. 37(1), Sec. 43(1), Section 32A

Bombay H.C : The assessee is entitled for deduction on account of investment allowance, by ignoring the fact that the assessee is engaged only in processing activity and not in production and manufacturing of any article or thing, ignoring the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. (1993) 114 CTR (SC) 420 : (1993) 204 ITR 412 (SC)

High Court Of Bombay At Goa CIT vs. Sesa Goa (India) Ltd. & Anr. Sections 32A, 37(1), 43(1), 43A R.M.

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