https://www.taxtmi.com/caselaws?id=377526 The High Court held that the appellant's lease of premises, computers, and machinery from its sister concern constituted a transfer, thus disallowing the deduction under Section 10B(1) of the Income Tax Act. The Court emphasized that the appellant's undertaking was not genuinely new and that the transfer of assets did not qualify for the exemption. The appeal was dismissed, and the revenue's position was favored. en-us Mon, 17 Dec 2018 00:00:00 +0530 Fri, 29 Mar 2019 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377526 The High Court held that the appellant's lease of premises, computers, and machinery from its sister concern constituted a transfer, thus disallowing the deduction under Section 10B(1) of the Income Tax Act. The Court emphasized that the appellant's undertaking was not genuinely new and that the transfer of assets did not qualify for the exemption. The appeal was dismissed, and the revenue's position was favored. Case-Laws Income Tax Mon, 17 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377526