https://www.taxtmi.com/caselaws?id=10546 The court ruled in favor of the Revenue, stating that the applicant did not meet the necessary criteria for claiming the exemption under section 80-I of the Income-tax Act, 1961. The court emphasized the importance of ownership of plant and machinery and the employment of the required number of workers in the manufacturing process to qualify as an industrial undertaking eligible for the deduction. The court upheld the Tribunal's decision to disallow the claim of exemption under section 80-I, emphasizing adherence to the specific criteria outlined in the Act for eligibility. en-us Fri, 15 Oct 2004 00:00:00 +0530 Fri, 17 Jul 2009 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10546 The court ruled in favor of the Revenue, stating that the applicant did not meet the necessary criteria for claiming the exemption under section 80-I of the Income-tax Act, 1961. The court emphasized the importance of ownership of plant and machinery and the employment of the required number of workers in the manufacturing process to qualify as an industrial undertaking eligible for the deduction. The court upheld the Tribunal's decision to disallow the claim of exemption under section 80-I, emphasizing adherence to the specific criteria outlined in the Act for eligibility. Case-Laws Income Tax Fri, 15 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10546