2001 (10) TMI 82

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..... .-This appeal filed by the Commissioner of Income-tax under section 260A of the Income-tax Act, 1961, relates to the assessment year 1990-91 covered by the appeal I. T. A. No. 451 (Coch) of 1995 on the file of the Income-tax Appellate Tribunal, Cochin Bench. The appeal was admitted on the following substantial question of law: "Whether, on the facts and in the circumstances of the case, the asse .....

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..... nt and machinery used in the activity of the assessee for processing fish. Therefore, we reframe the substantial question of law to be answered as: "Whether, on the facts and in the circumstances of the case, the assessee is entitled to investment allowance under section 32A on the Plant and machinery used in its activity of processing fish?" It is seen that the answer to this question has al .....

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..... (CIT v. Kala Cartoons P. Ltd. [2001] 252 ITR 658 (SC)). It has, therefore, to be held that the Tribunal was in error in answering the question formulated in favour of the assessee and against the Revenue. In the light of the unreported decision of the Supreme Court (since reported in [2001] 252 ITR 658) referred to above, the decision of the Supreme Court in CIT v. Relish, Foods [1999] 237 ITR .....

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