https://www.taxtmi.com/caselaws?id=22142 The High Court of Allahabad held that loans taken should not be excluded from the assessee's capital for calculating deduction under section 80J of the Income-tax Act, 1961, in the case involving M/s. Lohia Machines Pvt. Ltd. The judgment favored the Revenue over the assessee, following a previous Supreme Court decision in Lohia Machines Ltd. v. CIT [1985] 152 ITR 308. en-us Wed, 06 Mar 1991 00:00:00 +0530 Mon, 07 Dec 2009 15:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22142 The High Court of Allahabad held that loans taken should not be excluded from the assessee's capital for calculating deduction under section 80J of the Income-tax Act, 1961, in the case involving M/s. Lohia Machines Pvt. Ltd. The judgment favored the Revenue over the assessee, following a previous Supreme Court decision in Lohia Machines Ltd. v. CIT [1985] 152 ITR 308. Case-Laws Income Tax Wed, 06 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22142