https://www.taxtmi.com/circulars?id=9043 Tax holiday relief is confined to capital actually employed in the undertaking on the first day of the computation period. Plant and machinery not put to use for the business as of that day and book-created or non real assets (fictitious assets such as prepaid charges arising from internal adjustments) must be excluded from the computation of capital employed for the purpose of the tax-holiday deduction. en-us Thu, 28 Oct 1976 00:00:00 +0530 Wed, 01 Jun 2011 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9043 Tax holiday relief is confined to capital actually employed in the undertaking on the first day of the computation period. Plant and machinery not put to use for the business as of that day and book-created or non real assets (fictitious assets such as prepaid charges arising from internal adjustments) must be excluded from the computation of capital employed for the purpose of the tax-holiday deduction. Circulars Income Tax Thu, 28 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9043