https://www.taxtmi.com/caselaws?id=20500 The High Court affirmed the Tribunal's decision that the assessee, Kerala State Cashew Development Corporation Limited, is not entitled to the deduction under section 80J of the Income-tax Act, 1961. The court held that the assessee did not fulfill the conditions specified in the relevant provisions, including the interpretation of "transfer" to include leases, the applicability of the Explanation to section 80J, and the requirement for a newly established industrial undertaking. As the five-year period for deduction eligibility had expired before the assessee took over the factories, the deduction was denied for the assessment years in question. en-us Tue, 06 Apr 1993 00:00:00 +0530 Sat, 14 Nov 2009 13:06:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20500 The High Court affirmed the Tribunal's decision that the assessee, Kerala State Cashew Development Corporation Limited, is not entitled to the deduction under section 80J of the Income-tax Act, 1961. The court held that the assessee did not fulfill the conditions specified in the relevant provisions, including the interpretation of "transfer" to include leases, the applicability of the Explanation to section 80J, and the requirement for a newly established industrial undertaking. As the five-year period for deduction eligibility had expired before the assessee took over the factories, the deduction was denied for the assessment years in question. Case-Laws Income Tax Tue, 06 Apr 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20500