https://www.taxtmi.com/caselaws?id=62883 The Tribunal held that the assessee was not entitled to investment allowance for kolhus and pans leased to farmers for agricultural activities as the items were not used in industrial undertakings for manufacturing or production purposes. Despite the AAC's support for the claim, the Tribunal emphasized that the purpose of investment allowance is to promote industrial development, not agricultural endeavors. The Tribunal distinguished this case from previous judgments and upheld the Assessing Officer's decision, denying the investment allowance for the leased equipment. en-us Tue, 08 Oct 1991 00:00:00 +0530 Sat, 22 Jan 2011 13:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62883 The Tribunal held that the assessee was not entitled to investment allowance for kolhus and pans leased to farmers for agricultural activities as the items were not used in industrial undertakings for manufacturing or production purposes. Despite the AAC's support for the claim, the Tribunal emphasized that the purpose of investment allowance is to promote industrial development, not agricultural endeavors. The Tribunal distinguished this case from previous judgments and upheld the Assessing Officer's decision, denying the investment allowance for the leased equipment. Case-Laws Income Tax Tue, 08 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62883