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TMI Blog2003 (11) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... ing prawns and shrimps after subjecting them to various treatment like deveining, peeling, etc. When raw prawns are subjected to process of deveining and peeling they did not cease to be prawns and become other distinguished commodity. There is no essential difference between raw prawns and processed prawns. They continue to be known as prawns. This being the position, we are of the view, the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mstances of the case, the assessee, a processor of sea foods, is entitled to investment allowance under section 32A of the Income-tax Act?" The assessee is doing business in export of sea foods. While completing the assessment for the assessment year 1985-86, the Assessing Officer disallowed the claim for investment allowance to the extent of Rs. 1,87,000 on the ground that the assessee is not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase was whether purchasing, peeling, freezing and exporting of shrimps would involve production or manufacture. The apex court held that the assessee had not established that the activities would amount to manufacture or production. Counsel also referred to the decision of a Division Bench of this court in CIT v. Poyilakada Fisheries P. Ltd. [2000] 241 ITR 195. The question that arose in that case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee was not entitled to investment allowance on the plant and machinery used in its activity of processing fish. We are of the view, the principle enunciated in the above mentioned decisions would apply in the instant case as well. In this case, the assessee is exporting prawns and shrimps after subjecting them to various treatment like deveining, peeling, etc. When raw prawns are subjected t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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