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2004 (3) TMI 18 - MADRAS HIGH COURT"1. Whether Tribunal is right in law in holding that the assessee is entitled to investment allowance under section 32A? 2. Whether, Tribunal was right in coming to a conclusion that the assessee's business of construction and testing of plants and commissioning of boilers, would amount to manufacture of any article or thing, as per section 32A?" - An undertaking wherein activity of manufacturing takes place is an industry, if it meets the well known tests for determining the existence of an industry and that what is required is the industrial undertaking must be engaged in bringing into existence articles or things by a process of manufacture, and if these tests are met, an industrial undertaking can be recognised as being in existence - As in this case, the same has not been examined with reference to the question, it is only proper that the matter is remitted back to the Assessing Officer for fresh consideration of such claim of the assessee.
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