https://www.taxtmi.com/caselaws?id=11921 The court ruled in favor of the assessee on all issues. It held that Section 37(3D) applies to every new product for three previous years, regardless of the existence of the undertaking. The court also favored the assessee on the computation of disallowance under Section 40(c) and the classification under Section 80J(4)(iii). The benefit under Section 37(3D) was deemed available, leading to a positive outcome for the assessee on all questions. Both references were disposed of with no order as to costs. en-us Wed, 22 Jan 2003 00:00:00 +0530 Thu, 11 Feb 2010 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11921 The court ruled in favor of the assessee on all issues. It held that Section 37(3D) applies to every new product for three previous years, regardless of the existence of the undertaking. The court also favored the assessee on the computation of disallowance under Section 40(c) and the classification under Section 80J(4)(iii). The benefit under Section 37(3D) was deemed available, leading to a positive outcome for the assessee on all questions. Both references were disposed of with no order as to costs. Case-Laws Income Tax Wed, 22 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11921