https://www.taxtmi.com/caselaws?id=16247 The High Court of BOMBAY ruled against an assessee-company seeking investment allowance under section 32A of the Income-tax Act, 1961. The Court held that the company's data processing activities did not qualify as manufacturing or production activities as required by the Act. Despite the Tribunal's interpretation that data processing constituted manufacturing, the Court disagreed, emphasizing the lack of tangible article production. Citing a Supreme Court case, the Court concluded that processed data did not meet the Act's criteria. Consequently, the Court denied the investment allowance claim, ruling in favor of the Revenue. en-us Wed, 21 Apr 1999 00:00:00 +0530 Fri, 04 Sep 2009 16:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16247 The High Court of BOMBAY ruled against an assessee-company seeking investment allowance under section 32A of the Income-tax Act, 1961. The Court held that the company's data processing activities did not qualify as manufacturing or production activities as required by the Act. Despite the Tribunal's interpretation that data processing constituted manufacturing, the Court disagreed, emphasizing the lack of tangible article production. Citing a Supreme Court case, the Court concluded that processed data did not meet the Act's criteria. Consequently, the Court denied the investment allowance claim, ruling in favor of the Revenue. Case-Laws Income Tax Wed, 21 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16247