High Court allows investment allowance under section 32A for assessment year 1978-79

The High Court of Madras ruled in favor of the assessee, allowing investment allowance under section 32A for the assessment year 1978-79. The court held that once the requirements of section 32A are met, the benefit cannot be denied. The Revenue was directed to pay Rs. 1,500 to the State Legal Aid Fund.

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The High Court of Madras ruled in favor of the assessee, allowing investment allowance under section 32A for the assessment year 1978-79. The court held that once the requirements of section 32A are met, the benefit cannot be denied. The Revenue was directed to pay Rs. 1,500 to the State Legal Aid Fund.

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