1996 (3) TMI 62

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..... s court, under section 256(1) of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in law in holding that the assessee is entitled to investment allowance prescribed under section 32A(2) of the Income-tax Act, 1961, for the assessment year 1978-79 ? " The point for consideration is, whether the assessee, which is engage .....

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..... earing for the Department, brought to our notice a decision of the Supreme Court in CIT v. N. C. Budharaja and Co. [1993] 204 ITR 412, wherein the Supreme Court held that when the assessee engaged in construction work, the assessee is not doing any manufacture or processing, and, therefore, is not entitled to investment allowance under section 32A. Therefore, in view of the said decision of the Su .....

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