https://www.taxtmi.com/caselaws?id=9004 An electrolysis plant established in a separate building under a separate licence, with separate capital and producing caustic soda as an independently marketable raw material, was treated as a new industrial undertaking for section 15C purposes. The relevant test was whether the unit was formed by splitting up or reconstructing an existing business; mere consumption of the product in the assessee's paper business did not, by itself, make the unit part of that business. Reading section 15C in its broad commercial sense and to promote new industry, the plant was held not to be a mere reconstruction of the earlier business, and relief was available. en-us Wed, 23 May 1973 00:00:00 +0530 Thu, 18 Jun 2009 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9004 An electrolysis plant established in a separate building under a separate licence, with separate capital and producing caustic soda as an independently marketable raw material, was treated as a new industrial undertaking for section 15C purposes. The relevant test was whether the unit was formed by splitting up or reconstructing an existing business; mere consumption of the product in the assessee's paper business did not, by itself, make the unit part of that business. Reading section 15C in its broad commercial sense and to promote new industry, the plant was held not to be a mere reconstruction of the earlier business, and relief was available. Case-Laws Income Tax Wed, 23 May 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9004