1991 (10) TMI 17

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....ce of the Revenue, the following question has been referred for our opinion : "Whether, on the facts and in the circumstances of the case and the material available on the records, the Tribunal was justified in law in allowing the claim of investment allowance on the new machineries purchased during the year?" The facts giving rise to this reference are these. The assessee-firm is running a ....

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.... its cold storage plants. On further appeal to the Income-tax Appellate Tribunal, the investment allowance claimed by the assessee was allowed and the Assessing Officer was directed to allow investment allowance on the new machinery purchased by the assessee in accordance with law. In support, the Tribunal placed reliance on the decision of the Punjab and Haryana High Court in [1989] 178 ITR 58....

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....achinery or plant for running a cold storage. Our decision in the above income-tax references furnishes a complete answer to the question referred for our opinion. As we have dealt with the question referred for our opinion which was materially the same as that referred in the present case in considerable depth, it is unnecessary to repeat the reasons which had persuaded us to take the view ind....