https://www.taxtmi.com/caselaws?id=18579 The High Court of Andhra Pradesh ruled against the assessees, denying their claim for deduction under section 80J of the Income-tax Act for the assessment years 1980-81 and 1981-82. The court held that using trawlers for fishing and deriving income from such activities did not qualify as an industrial undertaking eligible for the deduction. The decision was based on the interpretation that profits were not directly derived from the ships themselves, leading to the denial of the deduction claim by the assessees. en-us Thu, 13 Jul 1995 00:00:00 +0530 Thu, 01 Oct 2009 17:28:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18579 The High Court of Andhra Pradesh ruled against the assessees, denying their claim for deduction under section 80J of the Income-tax Act for the assessment years 1980-81 and 1981-82. The court held that using trawlers for fishing and deriving income from such activities did not qualify as an industrial undertaking eligible for the deduction. The decision was based on the interpretation that profits were not directly derived from the ships themselves, leading to the denial of the deduction claim by the assessees. Case-Laws Income Tax Thu, 13 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18579