https://www.taxtmi.com/caselaws?id=12202 Section 80J relief is confined to profits and gains derived from a newly established industrial undertaking engaged in manufacture or production. Where the assessee has leased out its plant and machinery, those assets are not used by the assessee in manufacturing activity, and rental income from the lease is not income derived from the industrial undertaking. The value of the leased stock-in-trade or plant and machinery is therefore excluded from capital employed for section 80J computation, and cannot be added for relief purposes. en-us Wed, 04 Sep 2002 00:00:00 +0530 Fri, 19 Feb 2010 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12202 Section 80J relief is confined to profits and gains derived from a newly established industrial undertaking engaged in manufacture or production. Where the assessee has leased out its plant and machinery, those assets are not used by the assessee in manufacturing activity, and rental income from the lease is not income derived from the industrial undertaking. The value of the leased stock-in-trade or plant and machinery is therefore excluded from capital employed for section 80J computation, and cannot be added for relief purposes. Case-Laws Income Tax Wed, 04 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12202