1999 (8) TMI 56

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....tax Act, 1961, the Tribunal has referred the following questions set out at page 2 of the statement of case for the opinion of this court : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in holding the view that the assessee-company was entitled to investment allowance as it was an industrial company according to the Income-tax Act, 1961 ? (....

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....ken by the Commissioner of Income-tax (Appeals). Heard learned counsel for the Revenue. None appeared for the assessee. Section 32A provides for investment allowance in respect of ship or any aircraft or any machinery or plant specified in sub-section (2) which is owned by the assessee and is wholly used for the purposes of the business carried on by him. What would be the ship, aircraft, ma....