1998 (12) TMI 30

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.... company. The assessment year involved is 1983-84. The assessee claimed investment allowance on purchase and installation of cameras, laboratory machines and other equipment. 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 of the business of manufacture or product....

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.... 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. [1997] 225 ITR 348has held that the assess....