9911796707
TMI Blog1995 (3) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... the Appellate Tribunal was justified in holding that the assessee is entitled to relief under both the sections 80J and 80JJ ? 3. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in directing the Appellate Assistant Commissioner to consider that the assessee is an industrial company within the meaning of the Finance Act of the relevant assessment year for allowing enhanced depreciation at 10 per cent. on all the five items of buildings ? " The admitted facts are that the assessee is engaged in the business of hatchery employing modern methods. For the previous year ended March 31, 1978, corresponding to the assessment year 1978-79, the assessee claimed deduction under section 80J as having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or granting the relief in respect of poultry farming the deduction under section 80J was inadmissible. Learned counsel for the Revenue also referred to a decision of the Supreme Court in CIT v. N. C. Budharaja and Co. [1993] 204 ITR 412 and contended that the words "production of article" in section 80J would refer only to manufacture or creation of inanimate objects of matter but not to the growing of animate objects. He, therefore, pleaded for reconsideration of the decision. We have carefully read through the judgment of this court in CIT v. Sri Venkateswara Hatcheries P. Ltd. [1988] 174 ITR 231 along with the decisions cited by learned counsel. It may be recalled that the profits and gains of a business of livestock breeding or poultr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt when this court rendered the decision in Sri Venkateswara Hatcheries' case [1988] 174 ITR 231. That decision has become final. We are not persuaded to differ from it. We, therefore, answer the first two questions in the affirmative, i.e., in favour of the assessee and against the Revenue. The third question is consequential as the assessee is entitled to enhanced depreciation on the footing that machinery has been utilised in an industrial company. The definition of "industrial company" being the same as that given for an industrial undertaking under section 80J this question also is answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The referred case is accordingly disposed of. - - TaxT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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