1998 (12) TMI 23 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee, a private limited company, regarding investment allowance claimed on purchase and installation of cameras, laboratory machines, and other equipments. The court held that the assessee, engaged in processing and drying plant for cinematograph films, was entitled to investment allowance under section 32A of the Income-tax Act, 1961. The decision was influenced by a similar case in the Andhra Pradesh High Court, where the assessee was allowed to claim investment allowance for similar activities.