https://www.taxtmi.com/caselaws?id=182445 The case involved issues regarding the retention of additions as understated and unexplained investment and the disallowance of Investment Allowance on cold storage machineries. The Commissioner of Income-tax (Appeals) partially modified the additions but retained some. However, the Judicial Member concluded that no addition was warranted as the books of account were not defective. Regarding the Investment Allowance, it was initially denied but later allowed based on judicial precedents recognizing cold storage as an industrial undertaking. Ultimately, the appeals were allowed on both grounds, with the additions being deleted and the Investment Allowance granted to the assessee. en-us Fri, 27 May 1988 00:00:00 +0530 Tue, 10 May 2016 17:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182445 The case involved issues regarding the retention of additions as understated and unexplained investment and the disallowance of Investment Allowance on cold storage machineries. The Commissioner of Income-tax (Appeals) partially modified the additions but retained some. However, the Judicial Member concluded that no addition was warranted as the books of account were not defective. Regarding the Investment Allowance, it was initially denied but later allowed based on judicial precedents recognizing cold storage as an industrial undertaking. Ultimately, the appeals were allowed on both grounds, with the additions being deleted and the Investment Allowance granted to the assessee. Case-Laws Income Tax Fri, 27 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182445