https://www.taxtmi.com/caselaws?id=10004 The partnership firm was found entitled to the investment allowance under section 32A of the Income-tax Act for the assessment years 1986-87 and 1987-88. The Supreme Court ruled in favor of the firm, emphasizing that engaging in mining activities constituted production, meeting the conditions for the allowance. The court clarified that construction activities do not qualify for the investment allowance, highlighting the necessity for plant and machinery to be wholly used for business purposes. The decision favored the firm over the Revenue, with no costs incurred. en-us Fri, 25 Aug 2006 00:00:00 +0530 Sun, 05 Jul 2009 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10004 The partnership firm was found entitled to the investment allowance under section 32A of the Income-tax Act for the assessment years 1986-87 and 1987-88. The Supreme Court ruled in favor of the firm, emphasizing that engaging in mining activities constituted production, meeting the conditions for the allowance. The court clarified that construction activities do not qualify for the investment allowance, highlighting the necessity for plant and machinery to be wholly used for business purposes. The decision favored the firm over the Revenue, with no costs incurred. Case-Laws Income Tax Fri, 25 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10004