https://www.taxtmi.com/caselaws?id=21846 Loans and borrowings were held to be excluded from capital employed for relief under section 80J because rule 19A(3) validly required borrowed monies and debts, including long-term borrowings, to be left out of the computation. That settled precedent made any direction to include such borrowings unsustainable. The issue was answered against the assessee and in favour of the Department. en-us Tue, 06 Aug 1991 00:00:00 +0530 Wed, 02 Dec 2009 11:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21846 Loans and borrowings were held to be excluded from capital employed for relief under section 80J because rule 19A(3) validly required borrowed monies and debts, including long-term borrowings, to be left out of the computation. That settled precedent made any direction to include such borrowings unsustainable. The issue was answered against the assessee and in favour of the Department. Case-Laws Income Tax Tue, 06 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21846