https://www.taxtmi.com/caselaws?id=17945 HC held that the assessee's activity of running a hospital with X-ray and diagnostic equipment constituted a "business" for purposes of the IT Act, as it was an organised, profit-motivated venture carried on by partners, only one of whom was a medical professional. The court further ruled that the X-ray unit qualified as a small-scale "industrial undertaking" under section 32A(2)(b)(ii), since processing raw X-ray films into diagnostic photographs amounted to "production of an article or thing." Consequently, the assessee was held entitled to investment allowance under section 32A, and the questions referred were answered in the affirmative, in favour of the assessee and against the Revenue. en-us Mon, 08 Jul 1996 00:00:00 +0530 Mon, 15 Dec 2025 21:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17945 HC held that the assessee's activity of running a hospital with X-ray and diagnostic equipment constituted a "business" for purposes of the IT Act, as it was an organised, profit-motivated venture carried on by partners, only one of whom was a medical professional. The court further ruled that the X-ray unit qualified as a small-scale "industrial undertaking" under section 32A(2)(b)(ii), since processing raw X-ray films into diagnostic photographs amounted to "production of an article or thing." Consequently, the assessee was held entitled to investment allowance under section 32A, and the questions referred were answered in the affirmative, in favour of the assessee and against the Revenue. Case-Laws Income Tax Mon, 08 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17945