claim deduction under the existing provisions
contained in sub-section (1) of section 32AC even if its investment in the year
2014-15 is below ... regard it is worth noting the first proviso to sub-section (1A)
of section 32AC . It is provided that where installation of the new assets
analyse the section and the
contention of both the parties.
12. Section 32AC of the I.T. Act provides for deduction for investment
allowance where ... DSIR is section specific i.e., section
35 of the I.T. Act. However, looking at the background of introduction of section
32AC , the definition
crores which qualifies as new
asset as provided under sub-section (4) of section 32AC for which deduction
is allowable at the hands of assessee ... above assets qualifies as new asset as provided under
sub-section (4) of section 32AC of I.T. Act 1961 and there is no requirement
proposed section
32AD if it fulfils the conditions (such as investment above a
specified threshold) specified in the said section 32AC and
conditions specified under ... inserted section 32AD of the
Income Tax Act if it fulfills the conditions (such as investment
above a specified threshold) provided in section 32AC
defined in section 2(29BA) of the Act
and therefore assessee is not eligible for the deduction u/s. 32AC ... article or thing" which is
the mandate of section 32AC(1A) of the Act. The ld. DR relied on the definition of the
term
defined in section 2(29BA) of the Act
and therefore assessee is not eligible for the deduction u/s. 32AC ... article or thing" which is
the mandate of section 32AC(1A) of the Act. The ld. DR relied on the definition of the
term
against the order of Ld. CIT(A) confirming the
disallowance u/s 32AC of the Act amounting to Rs. 20,82,51,125/- being ... u/s 115JB of the Act. Pertinent to state that the assessee claimed for the
first time, deduction u/s 32AC
against the order of Ld. CIT(A) confirming the
disallowance u/s 32AC of the Act amounting to Rs. 20,82,51,125/- being ... u/s 115JB of the Act. Pertinent to state that the assessee claimed for the
first time, deduction u/s 32AC
against the order of Ld. CIT(A) confirming the
disallowance u/s 32AC of the Act amounting to Rs. 20,82,51,125/- being ... u/s 115JB of the Act. Pertinent to state that the assessee claimed for the
first time, deduction u/s 32AC
against the order of Ld. CIT(A) confirming the
disallowance u/s 32AC of the Act amounting to Rs. 20,82,51,125/- being ... u/s 115JB of the Act. Pertinent to state that the assessee claimed for the
first time, deduction u/s 32AC
