https://www.taxtmi.com/caselaws?id=192652 Section 80J capital employed was treated as the total resources used in the industrial undertaking, including borrowed funds, because delegated rules cannot narrow the statutory relief by excluding debt. Surtax liability was treated as an appropriation of profits and not an allowable deduction in computing business income. A gratuity provision based on actuarial valuation was accepted as an accrued business liability, even without an approved fund. Disputed water charges were allowed under the mercantile system once the liability was settled. The claim for increased development rebate on the Cyanuric Chloride process and design cost required further factual and statutory reconsideration and was remanded. en-us Thu, 01 Dec 1977 00:00:00 +0530 Fri, 09 Jun 2017 14:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192652 Section 80J capital employed was treated as the total resources used in the industrial undertaking, including borrowed funds, because delegated rules cannot narrow the statutory relief by excluding debt. Surtax liability was treated as an appropriation of profits and not an allowable deduction in computing business income. A gratuity provision based on actuarial valuation was accepted as an accrued business liability, even without an approved fund. Disputed water charges were allowed under the mercantile system once the liability was settled. The claim for increased development rebate on the Cyanuric Chloride process and design cost required further factual and statutory reconsideration and was remanded. Case-Laws Income Tax Thu, 01 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192652