https://www.taxtmi.com/caselaws?id=68954 The Tribunal remitted the issue of borrowed capital back to the ITO for a fresh decision in accordance with the law regarding relief under sections 80HHA and 80J. It held that relief under sections 80HHA and 80J should be cumulative, not alternative, allowing the assessee relief under both sections if profits were available. The ITO was directed to determine the final relief under section 80J based on available profits, with any balance carried forward as deficiency. The Tribunal dismissed the departmental representative's argument on the order of investment allowance. The appeal was allowed for statistical purposes. en-us Mon, 07 Jun 1982 00:00:00 +0530 Fri, 20 Jan 2012 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68954 The Tribunal remitted the issue of borrowed capital back to the ITO for a fresh decision in accordance with the law regarding relief under sections 80HHA and 80J. It held that relief under sections 80HHA and 80J should be cumulative, not alternative, allowing the assessee relief under both sections if profits were available. The ITO was directed to determine the final relief under section 80J based on available profits, with any balance carried forward as deficiency. The Tribunal dismissed the departmental representative's argument on the order of investment allowance. The appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 07 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68954