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of <h1>Supreme Court Clarifies Section 80-J Deduction: New Industrial Units Must Have Distinct Identity and Independent Operations.</h1> The circular addresses the criteria for claiming deductions under Section 80-J of the Income-tax Act, 1961, concerning the expansion of existing industrial units. It references a Supreme Court ruling that outlines conditions for such deductions, emphasizing the need for a new industrial undertaking with distinct identity and separate operations from the existing business. Key requirements include substantial fresh capital investment, employment of requisite labor, and production of identifiable products. The new unit must be viable independently, even if reliant on the existing business for inputs. The Board's prior instruction has been modified to align with these criteria.
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