https://www.taxtmi.com/caselaws?id=8408 The High Court of Kerala ruled that an assessee, a public limited company, was not eligible for relief under section 84 of the Income-tax Act, 1961 for profits from a newly established factory. The court held that the new factory was formed by splitting up an existing business, thus not meeting the criteria for concession under section 84(1). The judgment emphasized the necessity for a distinct new industrial undertaking to qualify for benefits under section 84, ultimately favoring the department over the assessee in the case. en-us Thu, 18 Nov 1971 00:00:00 +0530 Sat, 11 Apr 2009 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8408 The High Court of Kerala ruled that an assessee, a public limited company, was not eligible for relief under section 84 of the Income-tax Act, 1961 for profits from a newly established factory. The court held that the new factory was formed by splitting up an existing business, thus not meeting the criteria for concession under section 84(1). The judgment emphasized the necessity for a distinct new industrial undertaking to qualify for benefits under section 84, ultimately favoring the department over the assessee in the case. Case-Laws Income Tax Thu, 18 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8408