https://www.taxtmi.com/caselaws?id=20343 The court held that the advances made by the hard-board unit to the insulation board unit should be deducted as liabilities when computing the capital employed by the insulation board unit. The court found that the assessee was estopped from denying the factual situation previously represented for claiming benefits under the relevant tax provision. The court concluded that the entire amount of advances made by the hard-board unit to the insulation board unit should be deductible for calculating the capital under the applicable tax provision. The court directed authorities to examine further amounts of advance for potential relief eligibility. en-us Tue, 03 Nov 1992 00:00:00 +0530 Fri, 13 Nov 2009 13:39:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20343 The court held that the advances made by the hard-board unit to the insulation board unit should be deducted as liabilities when computing the capital employed by the insulation board unit. The court found that the assessee was estopped from denying the factual situation previously represented for claiming benefits under the relevant tax provision. The court concluded that the entire amount of advances made by the hard-board unit to the insulation board unit should be deductible for calculating the capital under the applicable tax provision. The court directed authorities to examine further amounts of advance for potential relief eligibility. Case-Laws Income Tax Tue, 03 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20343