Dredgers Qualify as Ships for Capital Base Calculation and Investment Allowance under Section 80J

The High Court of Madras held that dredgers are considered ships for calculating capital base under section 80J and for investment allowance. The court determined that the definition of "ship" encompasses dredgers, ruling in favor of the assessee against the Revenue department.

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The High Court of Madras ruled that dredgers are considered ships for the purpose of calculating capital base under section 80J and for investment allowance. The court referred to previous cases and held that the definition of "ship" includes dredgers. The judgment favored the assessee over the Revenue department.

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