Commissioner Of Income Tax, Calcutta vs Peerless Consultancy & Services (P) ...

The Supreme Court upheld the decision of the Appellate Assistant Commissioner and the Tribunal, affirming that the respondent company is entitled to investment allowance for a generator installed for processing data, which is considered as processing goods under tax law. The Court noted the absence of any contrary judicial precedent and emphasized that the assessment of primary material is not within its purview. Consequently, the civil appeal was dismissed with costs.