https://www.taxtmi.com/caselaws?id=15851 Investment allowance under section 32A of the Income-tax Act, 1961 is confined to specified ship, aircraft, machinery or plant used in a business carried on by an industrial undertaking. The controlling principle stated is that construction activity, by itself, does not amount to manufacture or production of an article or thing and therefore does not qualify as an industrial undertaking for this purpose. On that basis, a company engaged in construction work is not entitled to investment allowance under section 32A, and the reference was answered in favour of the Revenue. en-us Mon, 09 Aug 1999 00:00:00 +0530 Sat, 29 Aug 2009 15:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15851 Investment allowance under section 32A of the Income-tax Act, 1961 is confined to specified ship, aircraft, machinery or plant used in a business carried on by an industrial undertaking. The controlling principle stated is that construction activity, by itself, does not amount to manufacture or production of an article or thing and therefore does not qualify as an industrial undertaking for this purpose. On that basis, a company engaged in construction work is not entitled to investment allowance under section 32A, and the reference was answered in favour of the Revenue. Case-Laws Income Tax Mon, 09 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15851