https://www.taxtmi.com/caselaws?id=24299 Machinery or plant used in a cold storage business was treated as falling within section 32A(2)(b)(ii) of the Income-tax Act for investment allowance because the provision turns on use in the production or manufacture of an article or thing. The text rejected any additional requirement that the resulting article must be marketable, and treated the production of cold air as sufficient even though it formed only an intermediate stage in the preservation process. On that reasoning, cold storage machinery and plant qualified for investment allowance, and the reference was answered in favour of the assessee. en-us Thu, 23 Feb 1989 00:00:00 +0530 Tue, 19 Jan 2010 11:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24299 Machinery or plant used in a cold storage business was treated as falling within section 32A(2)(b)(ii) of the Income-tax Act for investment allowance because the provision turns on use in the production or manufacture of an article or thing. The text rejected any additional requirement that the resulting article must be marketable, and treated the production of cold air as sufficient even though it formed only an intermediate stage in the preservation process. On that reasoning, cold storage machinery and plant qualified for investment allowance, and the reference was answered in favour of the assessee. Case-Laws Income Tax Thu, 23 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24299