https://www.taxtmi.com/caselaws?id=15971 Deduction under section 80J is available only where profits are derived from an industrial undertaking satisfying the statutory conditions in section 80J(4). A cold storage plant merely leased out did not qualify, because the assessee had not carried on manufacturing or production, had not operated the plant during the relevant year, and the lessee used it in its own independent right. Reliance on a prior development rebate ruling under section 33 was misplaced, as the section 80J scheme is materially different. The claim for deduction under section 80J was therefore not allowable, and the Tribunal was wrong to grant it. en-us Wed, 01 Apr 1998 00:00:00 +0530 Mon, 31 Aug 2009 12:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15971 Deduction under section 80J is available only where profits are derived from an industrial undertaking satisfying the statutory conditions in section 80J(4). A cold storage plant merely leased out did not qualify, because the assessee had not carried on manufacturing or production, had not operated the plant during the relevant year, and the lessee used it in its own independent right. Reliance on a prior development rebate ruling under section 33 was misplaced, as the section 80J scheme is materially different. The claim for deduction under section 80J was therefore not allowable, and the Tribunal was wrong to grant it. Case-Laws Income Tax Wed, 01 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15971