https://www.taxtmi.com/caselaws?id=15774 The assessee was denied entitlement to export markets development allowance under section 35B of the Income-tax Act, 1961, as expenses incurred on charter fees for fishing trawlers were considered trading expenses in India and did not qualify for deduction. Additionally, the assessee was not entitled to deduction/relief under section 80J for profits derived from catching and exporting fish as the activities did not amount to manufacturing or production of goods. The High Court upheld both decisions against the assessee, ruling in favor of the Revenue with no order as to costs. en-us Mon, 06 Sep 1999 00:00:00 +0530 Sat, 29 Aug 2009 10:26:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15774 The assessee was denied entitlement to export markets development allowance under section 35B of the Income-tax Act, 1961, as expenses incurred on charter fees for fishing trawlers were considered trading expenses in India and did not qualify for deduction. Additionally, the assessee was not entitled to deduction/relief under section 80J for profits derived from catching and exporting fish as the activities did not amount to manufacturing or production of goods. The High Court upheld both decisions against the assessee, ruling in favor of the Revenue with no order as to costs. Case-Laws Income Tax Mon, 06 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15774