https://www.taxtmi.com/caselaws?id=78353 The High Court held that the assessee was entitled to the investment allowance under section 32A of the Income-tax Act for machinery used in its business, as industrial spirits were not considered "other alcoholic spirits" under the Eleventh Schedule. The court agreed with the Tribunal's decision that the machinery was primarily used for manufacturing industrial spirits, thus qualifying for the investment allowance. The court ruled in favor of the assessee, overturning the Commissioner of Income-tax (Appeals) decision and confirming the Tribunal's decision to allow the investment allowance. en-us Wed, 28 Jul 2010 00:00:00 +0530 Mon, 15 Nov 2010 10:00:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78353 The High Court held that the assessee was entitled to the investment allowance under section 32A of the Income-tax Act for machinery used in its business, as industrial spirits were not considered "other alcoholic spirits" under the Eleventh Schedule. The court agreed with the Tribunal's decision that the machinery was primarily used for manufacturing industrial spirits, thus qualifying for the investment allowance. The court ruled in favor of the assessee, overturning the Commissioner of Income-tax (Appeals) decision and confirming the Tribunal's decision to allow the investment allowance. Case-Laws Income Tax Wed, 28 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78353