Relief under section 80J: compute new industrial undertaking profits separately; disallow set off of its expenses against other income. Relief under section 80J must be computed by treating the new industrial undertaking as a separate business; apply business deduction rules to that undertaking alone. Expenses, allowances and adjustments attributable to the new undertaking, including unabsorbed depreciation and development rebate, must not be set off against profits of other units or other heads of income for computing relief, although such set-offs may be relevant when determining total income under the Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Relief under section 80J: compute new industrial undertaking profits separately; disallow set off of its expenses against other income.
Relief under section 80J must be computed by treating the new industrial undertaking as a separate business; apply business deduction rules to that undertaking alone. Expenses, allowances and adjustments attributable to the new undertaking, including unabsorbed depreciation and development rebate, must not be set off against profits of other units or other heads of income for computing relief, although such set-offs may be relevant when determining total income under the Act.
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