https://www.taxtmi.com/caselaws?id=24161 Investment allowance under section 32A was available for new machinery installed in a captive gas division where the oxygen produced was used as an intermediate input in steel manufacture. The court treated the oxygen plant as part of the integrated steel production process, because the oxygen was substantially consumed in the assessee's own plant and served only as an intermediate article in the chain of production. Its independent saleability did not change its character as machinery used for manufacture or production of articles within the statutory scheme. The allowance was therefore upheld in favour of the assessee. en-us Tue, 21 Mar 1989 00:00:00 +0530 Mon, 18 Jan 2010 11:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24161 Investment allowance under section 32A was available for new machinery installed in a captive gas division where the oxygen produced was used as an intermediate input in steel manufacture. The court treated the oxygen plant as part of the integrated steel production process, because the oxygen was substantially consumed in the assessee's own plant and served only as an intermediate article in the chain of production. Its independent saleability did not change its character as machinery used for manufacture or production of articles within the statutory scheme. The allowance was therefore upheld in favour of the assessee. Case-Laws Income Tax Tue, 21 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24161