https://www.taxtmi.com/caselaws?id=347434 The court dismissed the appeal by M/s. Shri Ram Flour Mills India (Private) Limited, affirming the decision that the assessee was ineligible for deductions under Section 80-IB of the Income Tax Act, 1961. The court held that the assessee formed an industrial undertaking by the transfer of previously used plant and machinery, contrary to the conditions of Section 80-IB which aim to promote new industrial undertakings with new machinery. The tribunal's decision in favor of the revenue was upheld, and the appeal was dismissed for lack of merit. en-us Tue, 29 Aug 2017 00:00:00 +0530 Mon, 04 Sep 2017 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347434 The court dismissed the appeal by M/s. Shri Ram Flour Mills India (Private) Limited, affirming the decision that the assessee was ineligible for deductions under Section 80-IB of the Income Tax Act, 1961. The court held that the assessee formed an industrial undertaking by the transfer of previously used plant and machinery, contrary to the conditions of Section 80-IB which aim to promote new industrial undertakings with new machinery. The tribunal's decision in favor of the revenue was upheld, and the appeal was dismissed for lack of merit. Case-Laws Income Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347434