https://www.taxtmi.com/caselaws?id=273211 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and dismissing the appeals. It concluded that the new unit was a separate entity, not formed by the reconstruction of the old business, emphasizing the introduction of substantial new capital and machinery. The Court found that the transfer of assets did not constitute reconstruction, relying on judicial precedents to support its decision regarding entitlement to benefits under Section 10AA of the Income Tax Act. en-us Thu, 18 May 2017 00:00:00 +0530 Mon, 11 Jun 2018 21:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273211 The High Court upheld the Tribunal's decision, ruling in favor of the assessee and dismissing the appeals. It concluded that the new unit was a separate entity, not formed by the reconstruction of the old business, emphasizing the introduction of substantial new capital and machinery. The Court found that the transfer of assets did not constitute reconstruction, relying on judicial precedents to support its decision regarding entitlement to benefits under Section 10AA of the Income Tax Act. Case-Laws Income Tax Thu, 18 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273211