https://www.taxtmi.com/caselaws?id=21394 The High Court of ALLAHABAD ruled against the assessee, holding that investment allowance under section 32A(2)(b) of the Income-tax Act was not admissible for the purchase of machineries for running a cold storage. The court emphasized that cold storage operations do not constitute "manufacture or production" as required by the provision. The Tribunal's decision to allow the investment allowance was deemed legally unjustified. The Revenue prevailed in the case, with the assessee being ordered to pay costs of Rs. 250. en-us Thu, 24 Oct 1991 00:00:00 +0530 Tue, 24 Nov 2009 11:08:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21394 The High Court of ALLAHABAD ruled against the assessee, holding that investment allowance under section 32A(2)(b) of the Income-tax Act was not admissible for the purchase of machineries for running a cold storage. The court emphasized that cold storage operations do not constitute "manufacture or production" as required by the provision. The Tribunal's decision to allow the investment allowance was deemed legally unjustified. The Revenue prevailed in the case, with the assessee being ordered to pay costs of Rs. 250. Case-Laws Income Tax Thu, 24 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21394