https://www.taxtmi.com/caselaws?id=16683 Investment allowance under section 32A is confined to new machinery or plant installed in an industrial undertaking used for the manufacture or production of an article or thing. A cold storage unit merely preserves goods through refrigeration and does not bring into existence a distinct marketable commodity, so its operations do not satisfy the statutory test of manufacture or production. On that reasoning, machinery installed in a cold storage business is not eligible for investment allowance under section 32A(2)(b)(ii), and the Revenue's position on ineligibility was upheld. en-us Mon, 29 Sep 1997 00:00:00 +0530 Wed, 09 Sep 2009 13:46:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16683 Investment allowance under section 32A is confined to new machinery or plant installed in an industrial undertaking used for the manufacture or production of an article or thing. A cold storage unit merely preserves goods through refrigeration and does not bring into existence a distinct marketable commodity, so its operations do not satisfy the statutory test of manufacture or production. On that reasoning, machinery installed in a cold storage business is not eligible for investment allowance under section 32A(2)(b)(ii), and the Revenue's position on ineligibility was upheld. Case-Laws Income Tax Mon, 29 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16683