Circular No. 324-Income Tax -
Circular No. 324-Income Tax Attention is invited to the provisions of section 32A, which provides for the grant of investment allowance in respect of new machinery and plant installed, inter alia, for the purpose of construction, manufacture or production of articles or things not included in Eleventh Schedule to the Income-tax Act. ...
Circular No. 325-Income Tax -
Circular No. 325-Income Tax Attention is invited to section 33A which provides for the grant of deduction by way of development allowance of a certain percentage of expenses incurred on planting of tea bushes on any land in India owned by an assessee who carries on business of growing and manufacturing tea. Sub-section (3) of section 33A ...