https://www.taxtmi.com/caselaws?id=10831 The High Court held that processing prawns did not amount to the production of a new article, thus denying the assessee's claim for investment allowance under section 32A of the Income-tax Act. The court emphasized that processed prawns remained fundamentally the same as raw prawns, following precedents that highlighted the similarity between processed and raw seafood. The judgment favored the Revenue, ruling against the assessee and directing the Appellate Tribunal to be informed of the decision. en-us Fri, 07 Nov 2003 00:00:00 +0530 Sat, 25 Jul 2009 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10831 The High Court held that processing prawns did not amount to the production of a new article, thus denying the assessee's claim for investment allowance under section 32A of the Income-tax Act. The court emphasized that processed prawns remained fundamentally the same as raw prawns, following precedents that highlighted the similarity between processed and raw seafood. The judgment favored the Revenue, ruling against the assessee and directing the Appellate Tribunal to be informed of the decision. Case-Laws Income Tax Fri, 07 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10831