https://www.taxtmi.com/caselaws?id=287030 The Appellate Tribunal ITAT Hyderabad allowed the appeal by Progressive Engineering Co. in a dispute over investment allowance for machinery used in constructing a dam. The Tribunal held that the construction of a dam qualified as an industrial undertaking under section 32A of the Income-tax Act, 1961. It directed the Income Tax Officer to reconsider the claim for investment allowance, recognizing the assessee's activity as engaging in the business of construction or manufacture of articles. The decision emphasized a broad interpretation of industrial activities, supporting the eligibility of the assessee for investment allowance based on the nature of the construction project and machinery used. en-us Sat, 28 Aug 1982 00:00:00 +0530 Fri, 09 Sep 2022 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287030 The Appellate Tribunal ITAT Hyderabad allowed the appeal by Progressive Engineering Co. in a dispute over investment allowance for machinery used in constructing a dam. The Tribunal held that the construction of a dam qualified as an industrial undertaking under section 32A of the Income-tax Act, 1961. It directed the Income Tax Officer to reconsider the claim for investment allowance, recognizing the assessee's activity as engaging in the business of construction or manufacture of articles. The decision emphasized a broad interpretation of industrial activities, supporting the eligibility of the assessee for investment allowance based on the nature of the construction project and machinery used. Case-Laws Income Tax Sat, 28 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287030