https://www.taxtmi.com/caselaws?id=325502 The High Court held that the assessee was entitled to the benefit under section 80I of the Income-tax Act for the assessment years in question. The Court found that the machinery transferred from Rishra to Konnagar did not exceed 20% of the total value of the new plant, thus meeting the conditions for the deduction. Additionally, the Court clarified that the benefit should be available if the conditions are met in any of the subsequent years, contrary to the Tribunal's decision. As a result, the appeal was allowed, and the Tribunal's order was set aside for all three assessment years. en-us Thu, 10 Mar 2016 00:00:00 +0530 Mon, 21 Mar 2016 01:06:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325502 The High Court held that the assessee was entitled to the benefit under section 80I of the Income-tax Act for the assessment years in question. The Court found that the machinery transferred from Rishra to Konnagar did not exceed 20% of the total value of the new plant, thus meeting the conditions for the deduction. Additionally, the Court clarified that the benefit should be available if the conditions are met in any of the subsequent years, contrary to the Tribunal's decision. As a result, the appeal was allowed, and the Tribunal's order was set aside for all three assessment years. Case-Laws Income Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325502