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Issues: (i) Whether an assessee engaged in transportation of goods by trucks is an "industrial undertaking" or "industrial unit" for the purposes of section 35D of the Income-tax Act, 1961. (ii) Whether rule 6AA of the Income-tax Rules, 1962, which came into force from 1 August 1981, applied to the assessment year 1981-82 for relief under section 35B of the Income-tax Act, 1961.
Issue (i): Whether an assessee engaged in transportation of goods by trucks is an "industrial undertaking" or "industrial unit" for the purposes of section 35D of the Income-tax Act, 1961.
Analysis: The claim under section 35D depended on whether the assessee's transport business could be treated as an industrial undertaking. The Court followed its earlier decision in the assessee's own case and treated the activity of transporting goods by trucks as outside the scope of an industrial undertaking for this provision.
Conclusion: The question was answered in the affirmative and against the assessee.
Issue (ii): Whether rule 6AA of the Income-tax Rules, 1962, which came into force from 1 August 1981, applied to the assessment year 1981-82 for relief under section 35B of the Income-tax Act, 1961.
Analysis: The relief claimed under section 35B was based on rule 6AA, but the rule was introduced only from 1 August 1981 and was held to have no retrospective operation. The Tribunal's view was supported by earlier decisions holding that the rule could not be applied to an earlier assessment year.
Conclusion: The question was answered in the affirmative and against the assessee.
Final Conclusion: Both referred questions were decided against the assessee, and the Tribunal's order was upheld.
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