https://www.taxtmi.com/caselaws?id=253002 A newly established industrial unit is not treated as a split-up or reconstruction of an existing business where it is set up in a new building with new machinery, separate registration, a different PAN, different customers, and substantial fresh investment in land, building, plant and machinery. Limited transfer of machinery and movement of employees from the earlier concern is insufficient, by itself, to deny incentive relief. Applying the test for new industrial undertakings, the unit was held to have a separate and identifiable existence and was entitled to deduction under Section 80-IC of the Income-tax Act, 1961. en-us Tue, 28 Oct 2014 00:00:00 +0530 Tue, 11 Nov 2014 07:57:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253002 A newly established industrial unit is not treated as a split-up or reconstruction of an existing business where it is set up in a new building with new machinery, separate registration, a different PAN, different customers, and substantial fresh investment in land, building, plant and machinery. Limited transfer of machinery and movement of employees from the earlier concern is insufficient, by itself, to deny incentive relief. Applying the test for new industrial undertakings, the unit was held to have a separate and identifiable existence and was entitled to deduction under Section 80-IC of the Income-tax Act, 1961. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253002