https://www.taxtmi.com/caselaws?id=7877 Section 15C relief for a new industrial undertaking is confined to profits and gains derived from that undertaking, computed separately under section 10 as a distinct fiscal unit. Composite business income cannot be used to enlarge the concession, and where brought-forward unabsorbed depreciation and development rebate attributable to the unit exceed its income, the undertaking has no taxable profits for the year. In such a case, no exemption under section 15C is available, and equitable hardship cannot expand the statutory relief. en-us Sat, 03 Jan 1970 00:00:00 +0530 Mon, 23 Mar 2009 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7877 Section 15C relief for a new industrial undertaking is confined to profits and gains derived from that undertaking, computed separately under section 10 as a distinct fiscal unit. Composite business income cannot be used to enlarge the concession, and where brought-forward unabsorbed depreciation and development rebate attributable to the unit exceed its income, the undertaking has no taxable profits for the year. In such a case, no exemption under section 15C is available, and equitable hardship cannot expand the statutory relief. Case-Laws Income Tax Sat, 03 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7877