https://www.taxtmi.com/caselaws?id=17435 The court ruled against Kar Mobiles Limited, denying deduction under section 80J of the Income-tax Act for the assessment years 1980-81 and 1981-82. The court held that section 80J allows deductions for the initial year and the subsequent four years, not a blanket exemption for five years. Citing precedent, the court found the assessee ineligible for relief in 1980-81 due to changes in accounting years. The decision favored the Revenue, leading to the unnecessary consideration of relief for 1981-82. The judgment will be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Fri, 05 Jul 1996 00:00:00 +0530 Tue, 22 Sep 2009 13:36:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17435 The court ruled against Kar Mobiles Limited, denying deduction under section 80J of the Income-tax Act for the assessment years 1980-81 and 1981-82. The court held that section 80J allows deductions for the initial year and the subsequent four years, not a blanket exemption for five years. Citing precedent, the court found the assessee ineligible for relief in 1980-81 due to changes in accounting years. The decision favored the Revenue, leading to the unnecessary consideration of relief for 1981-82. The judgment will be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Fri, 05 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17435