https://www.taxtmi.com/caselaws?id=22758 HC held that the assessee's construction-related activities, involving conversion of boulders into small stones with the aid of machinery, constitute "industrial undertaking" within the meaning of section 32A(2)(b)(iii) of the Act. Applying the rule that ambiguity in a taxing statute must be resolved in favour of the assessee, the court concluded that such operations amount to a manufacturing process and qualify for investment allowance at 25% of the actual cost of plant under section 32A(1). The HC therefore answered the reformulated question in the affirmative, in favour of the assessee, and set aside the Tribunal's contrary order. en-us Thu, 08 Nov 1990 00:00:00 +0530 Fri, 05 Dec 2025 19:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22758 HC held that the assessee's construction-related activities, involving conversion of boulders into small stones with the aid of machinery, constitute "industrial undertaking" within the meaning of section 32A(2)(b)(iii) of the Act. Applying the rule that ambiguity in a taxing statute must be resolved in favour of the assessee, the court concluded that such operations amount to a manufacturing process and qualify for investment allowance at 25% of the actual cost of plant under section 32A(1). The HC therefore answered the reformulated question in the affirmative, in favour of the assessee, and set aside the Tribunal's contrary order. Case-Laws Income Tax Thu, 08 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22758