https://www.taxtmi.com/caselaws?id=59179 The Tribunal held that the assessee-company, classified as a small-scale industrial undertaking with capital less than Rs. 10 lakhs, was entitled to investment allowance under section 32A of the Income-tax Act. The Commissioner's decision to disallow the allowance was overturned, and the original orders allowing the investment allowance were reinstated. The Tribunal emphasized the legislative intent to support small-scale industrial undertakings and rejected the Commissioner's reliance on irrelevant case laws. The assessee's entitlement to the investment allowance was affirmed, and the appeals were allowed in favor of the assessee. en-us Tue, 03 Jun 1986 00:00:00 +0530 Sat, 25 Dec 2010 13:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59179 The Tribunal held that the assessee-company, classified as a small-scale industrial undertaking with capital less than Rs. 10 lakhs, was entitled to investment allowance under section 32A of the Income-tax Act. The Commissioner's decision to disallow the allowance was overturned, and the original orders allowing the investment allowance were reinstated. The Tribunal emphasized the legislative intent to support small-scale industrial undertakings and rejected the Commissioner's reliance on irrelevant case laws. The assessee's entitlement to the investment allowance was affirmed, and the appeals were allowed in favor of the assessee. Case-Laws Income Tax Tue, 03 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59179