https://www.taxtmi.com/caselaws?id=19140 The court dismissed the reference, affirming that relief under section 80K is dependent on profits and gains derived by the company from a ship, eligible for deduction under section 80J. The court stressed the requirement of assessable profits in the company for shareholders to seek relief under section 80K. It highlighted the significance of the term "attributable" in determining the income eligible for relief and allowed the assessee to establish the company's profits for further review by the Tribunal, failing which the Tribunal's decision would stand. en-us Thu, 08 Dec 1994 00:00:00 +0530 Wed, 04 Nov 2009 12:30:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19140 The court dismissed the reference, affirming that relief under section 80K is dependent on profits and gains derived by the company from a ship, eligible for deduction under section 80J. The court stressed the requirement of assessable profits in the company for shareholders to seek relief under section 80K. It highlighted the significance of the term "attributable" in determining the income eligible for relief and allowed the assessee to establish the company's profits for further review by the Tribunal, failing which the Tribunal's decision would stand. Case-Laws Income Tax Thu, 08 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19140