https://www.taxtmi.com/caselaws?id=19486 The court ruled in favor of the Department on all three issues related to relief under section 80J of the Income-tax Act, 1961. It held that relief cannot be granted on borrowed capital, aligning with the Supreme Court's interpretation. The court emphasized excluding borrowed capital for relief under section 80J and directed reassessment of borrowed capital utilized in the new industrial undertaking. The judgment highlights the importance of adhering to statutory provisions and recent legal interpretations in tax matters. en-us Mon, 22 Aug 1994 00:00:00 +0530 Fri, 06 Nov 2009 14:30:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19486 The court ruled in favor of the Department on all three issues related to relief under section 80J of the Income-tax Act, 1961. It held that relief cannot be granted on borrowed capital, aligning with the Supreme Court's interpretation. The court emphasized excluding borrowed capital for relief under section 80J and directed reassessment of borrowed capital utilized in the new industrial undertaking. The judgment highlights the importance of adhering to statutory provisions and recent legal interpretations in tax matters. Case-Laws Income Tax Mon, 22 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19486