1999 (9) TMI 10

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....the following two questions of law arising out of its order dated December 26, 1991, in respect of the assessment year 1986-87 under section 256(1) of the Income-tax Act, 1961. "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in coming to the conclusion that the original assessment which granted the relief under sections 32A and 80-I to the ass....

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...., it had claimed investment allowance under section 32A and deduction under section 80-I which had been allowed by the Assessing Officer. Subsequently, the Commissioner of Income-tax was of the opinion that the activity of the assessee was not one of manufacture which would entitle it to the reliefs contemplated under sections 32A and 80-I of the Act. Hence, exercising jurisdiction under sectio....

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....ment given in the case reported in CIT v. Gogte Minerals (No. 2)[1997] 225 ITR 60 (Kar), wherein the provisions of section 32A of the Income-tax Act, were considered and it was observed that the company which carries out pulverising process by treating raw lumps of mineral chemically and thereafter converting the lumps into powder is engaged in processing of goods and therefore would fall within t....

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....y, i.e., the block. This matter was examined in the case of the assessee in CIT v. Mysore Minerals Ltd. [1994] 205 ITR 461 (Kar), and it was held that the assessee is an industrial undertaking entitled to investment allowance under section 32A. It is pointed out that the special leave has been granted against the said judgment. Section 80-I also refers to profits and gains in respect of an indu....