https://www.taxtmi.com/caselaws?id=70530 The case involved the computation of capital employed in a new industrial undertaking for claiming rebate under section 80-J. The assessee argued that both own and borrowed capital should be considered for calculating the capital invested, contrary to the Income Tax Officer's position. The Tribunal agreed with the assessee, emphasizing that section 80-J aims to provide relief based on the total investment in the new undertaking, regardless of the source of funds. The Tribunal's decision was supported by previous judicial rulings, clarifying the interpretation of the provisions and allowing the appeal on this legal question. en-us Thu, 13 Oct 1977 00:00:00 +0530 Sat, 16 Apr 2011 16:09:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70530 The case involved the computation of capital employed in a new industrial undertaking for claiming rebate under section 80-J. The assessee argued that both own and borrowed capital should be considered for calculating the capital invested, contrary to the Income Tax Officer's position. The Tribunal agreed with the assessee, emphasizing that section 80-J aims to provide relief based on the total investment in the new undertaking, regardless of the source of funds. The Tribunal's decision was supported by previous judicial rulings, clarifying the interpretation of the provisions and allowing the appeal on this legal question. Case-Laws Income Tax Thu, 13 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70530