https://www.taxtmi.com/caselaws?id=17874 Investment allowance under section 32A is available for plant and machinery used to manufacture or produce articles or things not listed in the Eleventh Schedule. Processing exposed colour film into positive prints is distinguished from producing cinematograph films: the activity duplicates negatives into exhibition prints and converts raw film into a distinct commercial product, so the cinematograph-film exclusion does not apply. Investment allowance may also be computed for carry-forward purposes where an assessment yields no taxable income. Failure to claim the allowance in the original return or assessment may be rectified where the statutory relief is otherwise available. en-us Thu, 14 Nov 1996 00:00:00 +0530 Fri, 25 Sep 2009 13:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17874 Investment allowance under section 32A is available for plant and machinery used to manufacture or produce articles or things not listed in the Eleventh Schedule. Processing exposed colour film into positive prints is distinguished from producing cinematograph films: the activity duplicates negatives into exhibition prints and converts raw film into a distinct commercial product, so the cinematograph-film exclusion does not apply. Investment allowance may also be computed for carry-forward purposes where an assessment yields no taxable income. Failure to claim the allowance in the original return or assessment may be rectified where the statutory relief is otherwise available. Case-Laws Income Tax Thu, 14 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17874