https://www.taxtmi.com/caselaws?id=20124 Borrowed capital is excluded from the capital base for computing relief under section 80J because rule 19A(3) governs that computation, and the contrary claim fails. By contrast, processing prawns by cutting and packing them for shipment supported classification as an industrial company under section 2(8)(c) of the Finance Act, 1974. Export incentives were treated as receipts arising from the business and as industrial profit, while customs duty drawback also counted toward industrial profits because the duty had formed part of business expenditure. The document therefore states that industrial company status was available on the processing and profit-link issues, but not on the section 80J capital question. en-us Wed, 19 Jan 1994 00:00:00 +0530 Wed, 11 Nov 2009 18:15:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20124 Borrowed capital is excluded from the capital base for computing relief under section 80J because rule 19A(3) governs that computation, and the contrary claim fails. By contrast, processing prawns by cutting and packing them for shipment supported classification as an industrial company under section 2(8)(c) of the Finance Act, 1974. Export incentives were treated as receipts arising from the business and as industrial profit, while customs duty drawback also counted toward industrial profits because the duty had formed part of business expenditure. The document therefore states that industrial company status was available on the processing and profit-link issues, but not on the section 80J capital question. Case-Laws Income Tax Wed, 19 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20124