https://www.taxtmi.com/caselaws?id=70244 Uninstalled machinery recorded in the balance sheet on the first day of the relevant previous year forms part of capital employed for computing the deduction under section 80JJ where its exclusion rests on the incorrect assumption that it was acquired later. Its value was therefore included in the capital computation. For section 80J relief, the effect of the challenged retrospective amendment on borrowed capital remained subject to the Supreme Court's pending ruling, requiring the computation to remain open for consequential modification. The capital-asset issue was resolved in favour of the assessee, while the borrowed-capital computation remained adjustable under the final authoritative ruling. en-us Tue, 31 Jul 1984 00:00:00 +0530 Fri, 15 Apr 2011 10:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70244 Uninstalled machinery recorded in the balance sheet on the first day of the relevant previous year forms part of capital employed for computing the deduction under section 80JJ where its exclusion rests on the incorrect assumption that it was acquired later. Its value was therefore included in the capital computation. For section 80J relief, the effect of the challenged retrospective amendment on borrowed capital remained subject to the Supreme Court's pending ruling, requiring the computation to remain open for consequential modification. The capital-asset issue was resolved in favour of the assessee, while the borrowed-capital computation remained adjustable under the final authoritative ruling. Case-Laws Income Tax Tue, 31 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70244