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TMI Blog1990 (11) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... ) : BHAGABATI PRASAD BANERJEE., AJIT KUMAR SENGUPTA JUDGMENT AJIT K. SENGUPTA J.-In this reference under section 256(1) of the Income-tax Act, 1961, for the assessment year 1980-81, the following questions of law have been referred to this court : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the assessee was entitled to in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income-tax Act, 1961 ?" The second question is concluded by the decision of this court in the case of this assessee (Union Carbide India Ltd. v. CIT [1987] 165 ITR 558). Following the said decision, we answer the second question in the affirmative and in favour of the assessee. The third question is also concluded by the decision of this court in the case of this assessee (CIT v. Union ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce in respect of its Deep Sea Fishing Division 11. The Income-tax Officer rejected the claim of the assessee on the ground that catching and/or processing of fish cannot be said to produce an article or thing and such activities do not constitute an industrial undertaking. The Commissioner of Income-tax (Appeals), following the order of the Tribunal in the assessee's own case for the assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing chambers installed in the vessels. Investment allowance will be allowed in respect of new machinery or plant for the purposes of, inter alia, production of articles or things except certain articles or things specified in the list to the Eleventh Schedule. The question is whether the assessee produces any article in its Deep Sea Fishing Division. The operations carried out by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (including frozen) and fish products are the result of production or manufacture, on analogy, it should be held that, for the purpose of section 32A, such items should be capable of being produced or manufactured. In our view, the processing of fish in this case amounted to production of an article. Therefore, the Deep Sea Fishing Division of the assessee which is an industrial undertaking within ..... X X X X Extracts X X X X X X X X Extracts X X X X
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