https://www.taxtmi.com/caselaws?id=257715 Deduction under Section 80-IA was unavailable because the industrial undertaking did not satisfy the statutory requirements for a newly set-up unit. The material supported the findings that the business was formed by reconstruction of an existing undertaking and involved impermissible use of old plant and machinery beyond the prescribed limit. The Tribunal erred in treating the unit as new and in dislodging the concurrent findings of the lower authorities without adequate basis, so the Revenue's challenge succeeded and the assessment position was restored. en-us Tue, 03 Mar 2015 00:00:00 +0530 Wed, 18 Mar 2015 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257715 Deduction under Section 80-IA was unavailable because the industrial undertaking did not satisfy the statutory requirements for a newly set-up unit. The material supported the findings that the business was formed by reconstruction of an existing undertaking and involved impermissible use of old plant and machinery beyond the prescribed limit. The Tribunal erred in treating the unit as new and in dislodging the concurrent findings of the lower authorities without adequate basis, so the Revenue's challenge succeeded and the assessment position was restored. Case-Laws Income Tax Tue, 03 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257715