https://www.taxtmi.com/caselaws?id=14921 The High Court ruled in favor of the assessee, affirming their entitlement to the investment allowance for machinery acquired for ice-cream manufacturing. The court determined that ice-cream should be classified as a milk product rather than a confectionery, based on common commercial understanding and previous legal precedents. This decision emphasized the significance of interpreting legislative terms in alignment with common understanding and maintaining consistency with past judgments. en-us Thu, 27 Apr 2000 00:00:00 +0530 Mon, 27 Jul 2009 11:19:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14921 The High Court ruled in favor of the assessee, affirming their entitlement to the investment allowance for machinery acquired for ice-cream manufacturing. The court determined that ice-cream should be classified as a milk product rather than a confectionery, based on common commercial understanding and previous legal precedents. This decision emphasized the significance of interpreting legislative terms in alignment with common understanding and maintaining consistency with past judgments. Case-Laws Income Tax Thu, 27 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14921