https://www.taxtmi.com/caselaws?id=18945 The court ruled in favor of the assessee, holding that carbon dioxide manufactured by the company fell within the scope of "carbon and graphite products" under item No. 25 of the Ninth Schedule to the Income-tax Act, 1961. The court interpreted the term "carbon" broadly to include carbon compounds like carbon dioxide, making the assessee eligible for investment allowance under section 32A(1). By referencing previous decisions and defining carbon dioxide as a carbon compound, the court affirmed the assessee's entitlement to the investment allowance, dismissing the Revenue's appeal. en-us Mon, 19 Dec 1994 00:00:00 +0530 Tue, 03 Nov 2009 10:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18945 The court ruled in favor of the assessee, holding that carbon dioxide manufactured by the company fell within the scope of "carbon and graphite products" under item No. 25 of the Ninth Schedule to the Income-tax Act, 1961. The court interpreted the term "carbon" broadly to include carbon compounds like carbon dioxide, making the assessee eligible for investment allowance under section 32A(1). By referencing previous decisions and defining carbon dioxide as a carbon compound, the court affirmed the assessee's entitlement to the investment allowance, dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 19 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18945