1997 (6) TMI 1 - HC - Income Tax

Summary

The High Court of Bombay ruled that the assessee was not entitled to investment allowance under section 32A of the Income-tax Act, 1961, based on the decision in CIT v. Deejay Hatcheries [1995] 211 ITR 652. The question referred to the court was answered in the negative and in favor of the Revenue. The reference was disposed of with no order as to costs.