https://www.taxtmi.com/caselaws?id=21144 The court held that the assessee was not eligible for investment allowance under section 32A of the Income-tax Act, 1961 as they were primarily involved in purchasing and selling granite blocks for export with minimal processing activities, not constituting manufacturing or processing of goods. The court determined that the assessee did not qualify as an industrial company due to the marginal nature of its processing activities, emphasizing that the main activity of selling or exporting already processed granite blocks did not elevate its status. Consequently, the revenue authorities' decision was upheld, denying the investment allowance claim. en-us Mon, 14 Jan 1991 00:00:00 +0530 Fri, 20 Nov 2009 13:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21144 The court held that the assessee was not eligible for investment allowance under section 32A of the Income-tax Act, 1961 as they were primarily involved in purchasing and selling granite blocks for export with minimal processing activities, not constituting manufacturing or processing of goods. The court determined that the assessee did not qualify as an industrial company due to the marginal nature of its processing activities, emphasizing that the main activity of selling or exporting already processed granite blocks did not elevate its status. Consequently, the revenue authorities' decision was upheld, denying the investment allowance claim. Case-Laws Income Tax Mon, 14 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21144