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2006 (7) TMI 153 - ALLAHABAD HIGH COURTDeduction under section 80J - assessee-firm was running a cold storage - it claimed relief under section 80J, as a new industrial undertaking - "Whether Tribunal was justified in holding that the assessee was entitled to the deduction under section 80J on the capital employed in the two chambers added to the existing cold storage?" - We find that under section 80J(2), deduction in respect of profits and gains is also available to the existing cold storage. In the present case the Tribunal held that the assessee was entitled to the deduction under section 80J on the two chambers added to the existing cold storage. In this view of the matter the Tribunal was right in giving the deduction under section 80J.
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