1998 (4) TMI 88

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..... at the instance of the Revenue relating to the assessee's assessment year 1981-82 for our consideration reads as under : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the assessee is entitled for relief under section 80J of the Act in respect of its cold storage plant leased out ?" The assessee is a private limited company .....

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..... of law set out earlier for our consideration. Section 80J of the Act provides for deduction in respect of profits and gains from newly established industrial undertakings or ships and one of the essential conditions for claiming the necessary deduction is that the profits and gains should be derived from an industrial undertaking. Section 80J(4) of the Act provides for fulfilment of certain cond .....

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..... section 80J(4) of the Act. On the facts of the case, it cannot be said that the assessee had produced any articles in any part of India or established industrial undertakings. The operation of the cold storage plant by the lessee was done by him in his own independent right as a lessee and it was not done either for or on behalf of the assessee. Hence, we hold that the Appellate Tribunal was not c .....

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