https://www.taxtmi.com/caselaws?id=18445 The court ruled in favor of the assessee in two cases concerning the grant of relief under section 80J of the Income-tax Act. It held that separate accounts are not mandatory for claiming relief under section 80J as long as profits from the new unit can be ascertained. The court emphasized that in abnormal circumstances like mill closures, employment days should be considered based on normal periods. The judgment highlighted that the lack of separate accounts should not be a basis for rejecting the claim under section 80J. en-us Fri, 21 Jul 1995 00:00:00 +0530 Fri, 17 Jul 2020 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18445 The court ruled in favor of the assessee in two cases concerning the grant of relief under section 80J of the Income-tax Act. It held that separate accounts are not mandatory for claiming relief under section 80J as long as profits from the new unit can be ascertained. The court emphasized that in abnormal circumstances like mill closures, employment days should be considered based on normal periods. The judgment highlighted that the lack of separate accounts should not be a basis for rejecting the claim under section 80J. Case-Laws Income Tax Fri, 21 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18445