SATISH CHANDRA,J. - (1.) THIS Court vide order dated December 6, 1993 (under Section 256(2) of the Income -tax Act) in I. T. A. No. 252 of 1993 has directed the Tribunal to draw up the statement of case and refer the following questions for the court's opinion for the assessment years 1983 -84 and 1984 -85 (R. A. No. 407(Alld.)/1992 and R. A. No. 10 (Alld.)/1993). For the assessment year 1985 -86, the Tribunal has referred the same questions under Section 256(1) of the Income -tax Act for opinion of this Court: 1. Is the Appellate Tribunal legally correct in holding that producing cold chilled air in the cold storage of the assessee does not amount to production or a thing within the meaning of the said expression in Section 32A of the Income -tax Act, 1961 ?
(2.) IS the Appellate Tribunal legally correct in refusing to accept that refrigerated condition can be brought in existence only by making or causing it to be produced ? 2. The facts and circumstances are identical for the three assessment years hence all the references are being disposed of by this consolidated order for the sake of convenience. Brief facts of the case are that the assessee deriving income from a cold storage. For the assessment years under consideration, the assessee has claimed investment allowance under Section 32A of the Income -tax Act (hereinafter referred to as 'the Act'), by stating that the assessee is producing chilled air in the cold storage, which amounted to 'production of a thing.
(3.) HOWEVER , the lower authorities have not accepted the claim of the assessee. The Tribunal also disallowed the claim by observing that the cold storage was not an industrial undertaking.;