https://www.taxtmi.com/caselaws?id=69732 The tribunal upheld the Appellate Assistant Commissioner's decision to include borrowed money as part of the capital employed in the business for calculating relief under section 80J of the IT Act. The tribunal dismissed the Revenue's appeal, emphasizing that borrowed funds utilized in business operations could be considered as capital employed, in line with the interpretation of "capital employed" under section 80J. The decision was based on precedents from the Calcutta High Court and the Madras High Court, supporting the inclusion of borrowed funds alongside share capital for the relief computation. en-us Wed, 18 Apr 1979 00:00:00 +0530 Mon, 11 Apr 2011 17:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69732 The tribunal upheld the Appellate Assistant Commissioner's decision to include borrowed money as part of the capital employed in the business for calculating relief under section 80J of the IT Act. The tribunal dismissed the Revenue's appeal, emphasizing that borrowed funds utilized in business operations could be considered as capital employed, in line with the interpretation of "capital employed" under section 80J. The decision was based on precedents from the Calcutta High Court and the Madras High Court, supporting the inclusion of borrowed funds alongside share capital for the relief computation. Case-Laws Income Tax Wed, 18 Apr 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69732