https://www.taxtmi.com/caselaws?id=22410 The court ruled in favor of the assessee on all issues, affirming the Tribunal's decisions. The court upheld the Tribunal's findings regarding the promoters' intention to float a company, the separate assessments for the relevant periods, setting aside assessments for specific years, entitlement to claim development rebate and relief under section 80J, and the entitlement to depreciation at a higher rate for manufacturing artificial silk. The Income-tax Officer was directed to redo the assessments in line with the court's clarifications. en-us Mon, 19 Nov 1990 00:00:00 +0530 Wed, 09 Dec 2009 18:29:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22410 The court ruled in favor of the assessee on all issues, affirming the Tribunal's decisions. The court upheld the Tribunal's findings regarding the promoters' intention to float a company, the separate assessments for the relevant periods, setting aside assessments for specific years, entitlement to claim development rebate and relief under section 80J, and the entitlement to depreciation at a higher rate for manufacturing artificial silk. The Income-tax Officer was directed to redo the assessments in line with the court's clarifications. Case-Laws Income Tax Mon, 19 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22410