Deduction u/s 32A. - Income Tax - 1323/CBDT

INSTRUCTION NO. 1323/CBDT Dated: March 22, 1980 The Board had an occasion to examine the question whether fishing vessels and fishing trawlers are entitled to the deduction on account of investment allowance under section 32A of the Income-tax Act, 1961. The question has been examined in consultation with the Ministry of Law. The Board have been advised that these would be entitled to the investment allowance under section 32A subject to the fulfilment of the conditions in this regard.