https://www.taxtmi.com/caselaws?id=70795 The Tribunal upheld the decision of the AAC, ruling in favor of the assessee. It held that the assessee's activity of converting raw films into finished goods constituted manufacturing or production, making the assessee eligible for investment allowance under section 32A(2) of the Income-tax Act. The Tribunal rejected the revenue's argument that the assessee's radiology work was a profession, not a business, emphasizing the commercial nature of the activities involving the X-ray machine. Additionally, the Tribunal determined that the conversion of raw film into a new photograph constituted the production of a new article, meeting the criteria for manufacture or production. en-us Thu, 18 Mar 1982 00:00:00 +0530 Tue, 19 Apr 2011 12:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70795 The Tribunal upheld the decision of the AAC, ruling in favor of the assessee. It held that the assessee's activity of converting raw films into finished goods constituted manufacturing or production, making the assessee eligible for investment allowance under section 32A(2) of the Income-tax Act. The Tribunal rejected the revenue's argument that the assessee's radiology work was a profession, not a business, emphasizing the commercial nature of the activities involving the X-ray machine. Additionally, the Tribunal determined that the conversion of raw film into a new photograph constituted the production of a new article, meeting the criteria for manufacture or production. Case-Laws Income Tax Thu, 18 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70795