https://www.taxtmi.com/caselaws?id=22220 The High Court ruled in favor of the assessee, a construction company, determining that it is entitled to investment allowance under section 32A of the Income-tax Act, 1961. The court held that the company's activities, including manufacturing and processing materials for construction, qualify as an industrial undertaking. The decision emphasized interpreting the statutory language broadly to include construction businesses and referenced judicial precedents to support the conclusion. The court's judgment favored the assessee over the Revenue, affirming its entitlement to the investment allowance. en-us Fri, 03 May 1991 00:00:00 +0530 Tue, 08 Dec 2009 11:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22220 The High Court ruled in favor of the assessee, a construction company, determining that it is entitled to investment allowance under section 32A of the Income-tax Act, 1961. The court held that the company's activities, including manufacturing and processing materials for construction, qualify as an industrial undertaking. The decision emphasized interpreting the statutory language broadly to include construction businesses and referenced judicial precedents to support the conclusion. The court's judgment favored the assessee over the Revenue, affirming its entitlement to the investment allowance. Case-Laws Income Tax Fri, 03 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22220