Appellant wishes to submit that deduction claimed by it
under section 32AC has been properly disclosed in the computation of income
(enclosed at page ... investment in new plant & machinery eligible for
deduction under section 32AC of the Act duly certified by the tax auditor vide
its submission dated
Appellant wishes to submit that deduction claimed by it
under section 32AC has been properly disclosed in the computation of income
(enclosed at page ... investment in new plant & machinery eligible for
deduction under section 32AC of the Act duly certified by the tax auditor vide
its submission dated
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
considering on merit its additional claim for investment allowance
under Section 32AC(1A) of the Income-tax Act, 1961 (hereinafter
"the Act"), amounting ... assessee raised an additional ground, claiming
deduction under section 32AC amounting to ₹19,11,38,877/-, being
15% of the investment in new plant
production' and
'new asset' used in sub-section(1) of section 32AC of the Act.
5. In respect of issue ... 2020 (A.Y.2017-18)
A bare perusal of sub-section (1) to section 32AC would show that the assessee would
be eligible for claiming
plant and
machinery in accordance with section 32 AC and therefore is entitled to
claim allowance u/s 32AC at the rate ... jurisdiction of provisions u/s 263 of the I.T.Act. He further submitted the
provisions of section 32AC to be liberally constructed as otherwise
additional claim of deduction of
Rs.11,66,05,610/- under section 32AC of the Income Tax Act, 1961, made by the
assessee through ... u/s. 14A (Normal provisions as well 4,83,46,713
as MAT u/s. 115JB )
8. Disallowance of investment allowance u/s. 32AC
additional claim of deduction of
Rs.11,66,05,610/- under section 32AC of the Income Tax Act, 1961, made by the
assessee through ... u/s. 14A (Normal provisions as well 4,83,46,713
as MAT u/s. 115JB )
8. Disallowance of investment allowance u/s. 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
