https://www.taxtmi.com/caselaws?id=212932 The High Court dismissed the revenue's appeals, affirming that the assessee is entitled to the benefit of section 10A of the Income-tax Act, 1961. The Court held that ownership of the machinery is not a requirement for claiming exemption under section 10A, and the value of leased machinery should be included in the total value of machinery used in the business for calculating the 20% threshold. The substantial questions of law were answered in favor of the assessee and against the revenue. en-us Wed, 22 Feb 2012 00:00:00 +0530 Tue, 01 May 2012 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212932 The High Court dismissed the revenue's appeals, affirming that the assessee is entitled to the benefit of section 10A of the Income-tax Act, 1961. The Court held that ownership of the machinery is not a requirement for claiming exemption under section 10A, and the value of leased machinery should be included in the total value of machinery used in the business for calculating the 20% threshold. The substantial questions of law were answered in favor of the assessee and against the revenue. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212932