https://www.taxtmi.com/caselaws?id=15245 Investment allowance under section 32A was available to an assessee leasing plant and machinery where it retained ownership and hired the assets to lessees using them in manufacturing operations. Hiring constituted bailment, so temporary use by lessees did not divest the owner of rights in the machinery. Hire charges were treated as business income, and the assessee's failure to undertake manufacturing itself did not defeat eligibility for investment allowance on the leased assets. en-us Tue, 16 Nov 1999 00:00:00 +0530 Mon, 03 Aug 2009 18:43:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15245 Investment allowance under section 32A was available to an assessee leasing plant and machinery where it retained ownership and hired the assets to lessees using them in manufacturing operations. Hiring constituted bailment, so temporary use by lessees did not divest the owner of rights in the machinery. Hire charges were treated as business income, and the assessee's failure to undertake manufacturing itself did not defeat eligibility for investment allowance on the leased assets. Case-Laws Income Tax Tue, 16 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15245