1998 (12) TMI 23

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....essee is a private limited company. The assessment years involved are 1979-80 and 1980-81. The assessee claimed investment allowance on purchase and installation of cameras, laboratory machines and other equipments. According to section 32A of the Income-tax Act, 1961, the assessee is entitled for investment allowance in respect of any machinery or plant installed and used mainly for the purposes ....

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....her the Tribunal is right in law in holding that the assessee is not engaged in the production of cinematograph films mentioned in item No. 9 of the Eleventh Schedule to the Income-tax Act, 1961, and therefore, the assessee is entitled to the allowance under section 32A(2)(b)(iii) of the Income-tax Act, 1961 ?" The Andhra Pradesh High Court in the case of CIT v. Prasad Film Laboratories P. Ltd.....