https://www.taxtmi.com/caselaws?id=17357 Binding precedent governed the computation of relief under sections 80J and 80HH. The High Court held that work-in-progress, machinery and equipment in transit and under erection were includible in capital for section 80J, and that relief under section 80J was to be computed on profits and gains before current depreciation. It also held that section 80HH exemption was to be allowed on commercial profits after current depreciation. All questions were answered in favour of the assessee and against the Revenue. en-us Tue, 26 Mar 1996 00:00:00 +0530 Mon, 21 Sep 2009 17:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17357 Binding precedent governed the computation of relief under sections 80J and 80HH. The High Court held that work-in-progress, machinery and equipment in transit and under erection were includible in capital for section 80J, and that relief under section 80J was to be computed on profits and gains before current depreciation. It also held that section 80HH exemption was to be allowed on commercial profits after current depreciation. All questions were answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 26 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17357