https://www.taxtmi.com/caselaws?id=10754 The court clarified the interpretation of section 80J of the Income-tax Act, emphasizing the importance of newly established industrial undertakings and the need for fresh capital. It ruled in favor of the Revenue, stating that the transfer of capital between units did not meet the requirements for claiming deductions under section 80J. The judgment highlighted that the focus is on the establishment of the undertaking itself and not on subsequent acquisitions, ultimately emphasizing the significance of fresh capital for tax concessions under section 80J. en-us Tue, 26 Oct 2004 00:00:00 +0530 Fri, 24 Jul 2009 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10754 The court clarified the interpretation of section 80J of the Income-tax Act, emphasizing the importance of newly established industrial undertakings and the need for fresh capital. It ruled in favor of the Revenue, stating that the transfer of capital between units did not meet the requirements for claiming deductions under section 80J. The judgment highlighted that the focus is on the establishment of the undertaking itself and not on subsequent acquisitions, ultimately emphasizing the significance of fresh capital for tax concessions under section 80J. Case-Laws Income Tax Tue, 26 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10754