1995 (7) TMI 16

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....f the case, the assessee-company is eligible for allowance under section 80J for the assessment years 1980-81 and 1981-82 ? " The assessees, which are carrying on the business of catching fish from the sea, claim deduction under section 80J of the Act for different assessment years. On the ground that the assessees were operating trawlers for catching the fish, the Income-tax Officer rejected their claim. The assessees then carried the matter in appeals to the Commissioner of Income-tax (Appeals) and the same were also dismissed. Then second appeals were preferred before the Income-tax Appellate Tribunal. The Tribunal noted that exactly on similar facts, the Bombay High Court held that the assessee is not entitled to the deduction under ....

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....but also for decapitating, peeling and packing shrimps in special containers and freezing them in special quick-freezing chambers installed in the vessels. On those facts, the High Court of Calcutta held that the assessee was an industrial undertaking and entitled to the relief under section 80J of the Act. That case is clearly distinguishable from the present cases because in this case the assessee did not claim to be an industrial undertaking and none of the features, pointed out above, in the case before the Calcutta High Court, exists in the instant case. The next case relied upon by learned counsel for the assessees is CIT v. Poyilakkada Fisheries Pvt. Ltd. [1992] 197 ITR 85 (Ker). In that case, the Kerala High Court followed its ow....