https://www.taxtmi.com/caselaws?id=8875 Section 15C exemption applied because the new industrial undertaking was a separate and self-contained sugar factory with distinct plant, power source and much larger crushing capacity, so it was not formed by reconstruction of the existing business. The continued separate identity of the new unit, even though both units operated for some time, meant the statutory bar in section 15C(2)(i) was not attracted. The use of some old scrap and material was held insignificant and insufficient to amount to a disqualifying transfer of previously used building, machinery or plant. The exemption was therefore available to the assessee-company. en-us Mon, 29 Mar 1971 00:00:00 +0530 Tue, 16 Jun 2009 19:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8875 Section 15C exemption applied because the new industrial undertaking was a separate and self-contained sugar factory with distinct plant, power source and much larger crushing capacity, so it was not formed by reconstruction of the existing business. The continued separate identity of the new unit, even though both units operated for some time, meant the statutory bar in section 15C(2)(i) was not attracted. The use of some old scrap and material was held insignificant and insufficient to amount to a disqualifying transfer of previously used building, machinery or plant. The exemption was therefore available to the assessee-company. Case-Laws Income Tax Mon, 29 Mar 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8875