1998 (4) TMI 88 - HC - Income Tax

Summary

The High Court of Madras ruled that the assessee was not eligible for relief under section 80J of the Income-tax Act for the assessment year 1981-82. The court found that the assessee did not fulfill the conditions required for the deduction as per section 80J(4) of the Act, as they had not engaged in manufacturing activities and had let out the cold storage plant on hire. The court held that the operation of the plant by the lessee was not on behalf of the assessee. The judgment was in favor of the Revenue.