https://www.taxtmi.com/caselaws?id=16368 The High Court ruled in favor of the assessee, allowing the deduction under Section 80J of the Income-tax Act, 1961. The court held that the assessee could claim the relief for each of the five years of exemption, even if not claimed initially, as long as all conditions were met. The judgment emphasized a liberal interpretation of Section 80J in favor of the assessee to support new industrial undertakings. The decision of the Income-tax Appellate Tribunal to allow the relief was upheld, granting the assessee the benefit of the deduction for the relevant assessment year. en-us Tue, 09 Dec 1997 00:00:00 +0530 Mon, 07 Sep 2009 13:00:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16368 The High Court ruled in favor of the assessee, allowing the deduction under Section 80J of the Income-tax Act, 1961. The court held that the assessee could claim the relief for each of the five years of exemption, even if not claimed initially, as long as all conditions were met. The judgment emphasized a liberal interpretation of Section 80J in favor of the assessee to support new industrial undertakings. The decision of the Income-tax Appellate Tribunal to allow the relief was upheld, granting the assessee the benefit of the deduction for the relevant assessment year. Case-Laws Income Tax Tue, 09 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16368