https://www.taxtmi.com/caselaws?id=11948 The High Court ruled in favor of the assessee, allowing investment allowance for hospital equipment, including an E.C.G. machine, x-ray unit, and laboratory equipment. The court held that hospitals could manufacture products for patient benefit, qualifying for investment allowance under relevant provisions. Additionally, the court determined that the hospital equipment, as part of a composite undertaking, met the conditions for investment allowance, emphasizing the requirement for the undertaking to produce articles. The judgment directed compliance by the Income-tax Appellate Tribunal, granting investment allowance for the hospital and laboratory equipment. en-us Wed, 19 Feb 2003 00:00:00 +0530 Sat, 13 Feb 2010 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11948 The High Court ruled in favor of the assessee, allowing investment allowance for hospital equipment, including an E.C.G. machine, x-ray unit, and laboratory equipment. The court held that hospitals could manufacture products for patient benefit, qualifying for investment allowance under relevant provisions. Additionally, the court determined that the hospital equipment, as part of a composite undertaking, met the conditions for investment allowance, emphasizing the requirement for the undertaking to produce articles. The judgment directed compliance by the Income-tax Appellate Tribunal, granting investment allowance for the hospital and laboratory equipment. Case-Laws Income Tax Wed, 19 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11948