2007 (4) TMI 125

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..... No. 68 of 2004 - - - Dated:- 23-4-2007 - JUDGMENT The judgment of the court was delivered by P. D. DINAKARAN J. The above tax case appeal is directed against the order of the Income-tax Appellate Tribunal in I. T. A. No. 913/Mds/94 dated March 17, 2003, raising the following substantial questions of law: "(a) Whether, on the facts and circumstances of the case, the Tribunal was right i .....

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..... nt allowance was not made in the original return or before the Assessing Officer during the assessment proceedings, rejected the same. 4 Enraged by the order of the Commissioner, the assessee preferred an appeal before the Income-tax Appellate Tribunal claiming investment allowance and depreciation allowance on the ground that the payment of additional customs duty in respect of goods imported .....

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..... d the cost of the machinery, development rebate had to be claimed in the assessment year in which the machinery was purchased and accordingly, the assessee was entitled to development rebate in the assessment year in which the machinery was purchased. 6 In the instant case, the assessee paid the additional customs duty in the subsequent period of acquisition and claimed the investment and depr .....

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