2001 (9) TMI 54 - HC - Income Tax

Summary

The High Court of Punjab and Haryana dismissed the appeal under section 260A of the Income-tax Act, 1961, regarding the entitlement to investment allowance on machinery used for bleaching, dyeing, and printing. The court cited previous decisions that confirmed such activities as manufacturing, making the assessee eligible for the deduction. The appeal was dismissed based on these precedents.