Investment allowance for an ice factory upheld; no referable question of law arose on the Tribunal's order.

Investment allowance under section 32A was recognised for an ice factory installed along with a cold storage, the Court distinguishing the Revenue's cited precedent on that factual basis. The Tribunal's grant of the statutory benefit was therefore upheld for the ice factory. On the reference issue, the Court found that the Tribunal's order did not raise any referable question of law, so the application under section 256(2) could not be entertained.

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Issues: Whether the assessee was entitled to investment allowance under section 32A of the Income-tax Act, 1961 in respect of the ice factory and whether any question of law arose for reference under section 256(2) of the Income-tax Act, 1961.

Analysis: The claim was distinguished from the precedent relied upon by the Revenue because the present matter concerned an ice factory installed along with a cold storage, and the Tribunal had granted the concession in respect of the ice factory. On that footing, the Court found that the assessee was entitled to the statutory benefit claimed. As the Tribunal's order did not give rise to any referable question of law, the application under section 256(2) could not be entertained.

Conclusion: The assessee was held entitled to the benefit of investment allowance under section 32A, and no question of law arose for reference.

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