https://www.taxtmi.com/caselaws?id=65752 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, granting the deduction-relief under sections 80HH and 80J of the IT Act for the assessment years 1975-76 to 1977-78. The ITAT found that the assessee's actions, including the shift to a new location, increased production range, investment in new machinery, and resulting profits, met the criteria for establishing a new industrial undertaking as required by the Act. The decision emphasized the need for substantial fresh capital investment, employment of labor, production of articles, clear profit attribution, and a distinct identity for the industrial unit to qualify for the statutory benefits. en-us Fri, 11 Apr 1980 00:00:00 +0530 Fri, 18 Feb 2011 15:49:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65752 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, granting the deduction-relief under sections 80HH and 80J of the IT Act for the assessment years 1975-76 to 1977-78. The ITAT found that the assessee's actions, including the shift to a new location, increased production range, investment in new machinery, and resulting profits, met the criteria for establishing a new industrial undertaking as required by the Act. The decision emphasized the need for substantial fresh capital investment, employment of labor, production of articles, clear profit attribution, and a distinct identity for the industrial unit to qualify for the statutory benefits. Case-Laws Income Tax Fri, 11 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65752