https://www.taxtmi.com/caselaws?id=61418 The appeal by the Revenue was dismissed, affirming the deletion of an addition on account of unaccounted sale proceeds of cloth and the allowance of investment allowance under section 32A of the Act for the assessment year 1987-88. The Tribunal found the deletion of the cloth sale proceeds addition justified as the estimation was reasonable due to various factors affecting shrinkage, and the goods were hypothecated. Additionally, the activities of bleaching, dyeing, and printing were considered manufacturing activities for the purpose of section 32A, based on relevant legal precedents. en-us Tue, 23 Feb 1993 00:00:00 +0530 Wed, 12 Jan 2011 15:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61418 The appeal by the Revenue was dismissed, affirming the deletion of an addition on account of unaccounted sale proceeds of cloth and the allowance of investment allowance under section 32A of the Act for the assessment year 1987-88. The Tribunal found the deletion of the cloth sale proceeds addition justified as the estimation was reasonable due to various factors affecting shrinkage, and the goods were hypothecated. Additionally, the activities of bleaching, dyeing, and printing were considered manufacturing activities for the purpose of section 32A, based on relevant legal precedents. Case-Laws Income Tax Tue, 23 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61418