https://www.taxtmi.com/caselaws?id=22648 The case involved the interpretation of section 80J of the Income-tax Act concerning the deduction for a new industrial unit. The Appellate Tribunal ruled in favor of the assessee, stating that a new industrial undertaking had been established for manufacturing lamp caps. The dispute centered on the submission of separate profit and loss accounts for the new unit. It was established that separate accounts were not mandatory under section 80J, and the assessee's commitment to providing necessary figures for adjustment was acknowledged. The court refrained from expressing a final opinion, emphasizing the importance of providing sufficient material for the Income-tax Officer to determine the entitlement and quantum of deduction under section 80J. en-us Thu, 08 Nov 1990 00:00:00 +0530 Sat, 12 Dec 2009 10:41:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22648 The case involved the interpretation of section 80J of the Income-tax Act concerning the deduction for a new industrial unit. The Appellate Tribunal ruled in favor of the assessee, stating that a new industrial undertaking had been established for manufacturing lamp caps. The dispute centered on the submission of separate profit and loss accounts for the new unit. It was established that separate accounts were not mandatory under section 80J, and the assessee's commitment to providing necessary figures for adjustment was acknowledged. The court refrained from expressing a final opinion, emphasizing the importance of providing sufficient material for the Income-tax Officer to determine the entitlement and quantum of deduction under section 80J. Case-Laws Income Tax Thu, 08 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22648