2004 (6) TMI 28

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....cle 5(1), Ahmedabad, i.e., respondent No. 1. The facts, as averred in the petition, are as under: The assessment years involved are 1982-83 to 1986-87 and the corresponding accounting years are Samvat years 2037 to 2041. The petitioner purchased certain printing machines valued at Rs. 10,43,928 during Samvat year 2037 and claimed investment allowance at the rate of 25 per cent, under section 32A of the Act. The said investment allowance of Rs. 2,60,982 was carried forward as unabsorbed investment allowance in the light of the total income being computed at a loss of Rs. 13,870. Similarly, for the previous year, corresponding to the assessment year 1983-84, on the printing machinery costing Rs. 11,461, investment allowance to the tu....

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....tion for the assessment years 1982-83 to 1985-86 as the notices under section 148 of the Act have been issued beyond the period of four years from the end of the respective assessment year. In so far as the fifth year is concerned, i.e., the assessment year 1986-87, Mr. Kaji invited our attention to the assessment order for the subsequent assessment year 1987-88 to contend that even for the subsequent year on the same set of facts and circumstances the petitioner claimed investment allowance and the same has been granted in the assessment framed under section 143(3) of the Act. It was submitted that the said assessment has not been reopened or disturbed in any manner. In the circumstances, it was submitted that the reopening was bad in law ....

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....b-section (1) of section 32A of the Act are fulfilled by the petitioner. The provisions of clause (iii) of sub-section (2) of section 32A of the Act lay down that an assessee would be entitled to investment allowance on machinery or plant used in any other industrial undertaking for the purposes of business or manufacture or production of any article or thing, not being an article or thing specified in the list in the Eleventh Schedule. It is accepted that the goods obtained after the printing work carried out by the petitioner did not fall within the prohibited list in the Eleventh Schedule. The short question, therefore, would be whether it would amount to manufacture or production of an article or thing. However, for the reasons that fol....