Meaning of “‘Acquisition’ and ‘installation'”

Case Name : International cars & motors ltd. V. Ito 

Citation : [2013] 30 taxmann.Com 5/56 sot 50 (delhi)

Court : Delhi high court

Section : 32

Meaning : On the plain reading of section 32(1)(iia) it is obvious and apparent that both the words ‘acquired’ and ‘installed’ are linked with ‘and’ thus, requirement of both these words cannot be seen fulfilled even if either of the two is only fulfilled. In other words both the ‘acquisition’ and ‘installation’ of the new machinery or plant are required to be made after 31-3-2005 by an assessee engaged in the business of manufacture or production of an article or thing.

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