Madras High Court: Business activities qualify for investment allowance under Income Tax Act

The High Court of Madras held in favor of the assessee, determining that their business activities were eligible for investment allowance under section 32A of the Income Tax Act, 1961. The court referenced a prior case to establish that the processing of unbleached grey cloth constituted manufacturing, thereby entitling the assessee to investment allowance and relief under section 80J of the Act.

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The High Court of Madras ruled in favor of the assessee, stating that their business activities qualified for investment allowance under section 32A of the Income Tax Act, 1961. The court cited a similar case where processing unbleached grey cloth was considered manufacturing, entitling the assessee to investment allowance and relief under section 80J of the Act.

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