1993 (9) TMI 6 - SC - Income Tax

Construction of a dam - whether the assessee herein or the work undertaken by it can be characterised as an "industrial undertaking" - held that sub-clause (iii) of clause (b) of sub-section (2) of section 32A does not comprehend within its ambit construction of a dam, a bridge, a building, a road, canal and other similar constructions - A statute cannot always be construed with the dictionary in one hand and the statute in the other - investment allowance not entitled