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2003 (12) TMI 5 - HC - Income TaxInvestment allowance was denied to the assessee (a manufacturer of aerated waters) on the ground that the aerated waters manufactured by it contained blended flavouring concentrates - Item No. 5 in Eleventh Schedule - An Explanation was added under entry No. 5 by the Finance Act, 1987, which came into force from April 1, 1988 - amendment that was effected in the year 1988 for the purpose of introducing an Explanation, was introduced - fact that this amendment was made effective from April 1, 1988, therefore, does not in any way have the effect of denuding the original entry of a part of its content. The synthetic essence being but one form of a blended flavouring concentrate was a blended flavouring concentrate before the amendment as also after the amendment. The order of the Tribunal holding that the assessee, despite being engaged in the manufacture of a product which is covered by entry No. 5 of the Eleventh Schedule, is entitled to investment allowance, therefore, cannot be sustained.
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