https://www.taxtmi.com/caselaws?id=23543 The High Court held that a private limited company engaged in manufacturing durofoam was entitled to the full benefit of section 80J of the Income-tax Act for the assessment year 1975-76, without proportionate reduction based on the working period of the industrial undertaking. The court directed verification of actual borrowals by the new unit and computation of capital as per the law. The Tribunal was tasked with recomputing the capital employed in the new unit, emphasizing that the company's funds invested in the new unit constituted capital and not a borrowal. en-us Thu, 15 Feb 1990 00:00:00 +0530 Mon, 21 Dec 2009 16:49:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23543 The High Court held that a private limited company engaged in manufacturing durofoam was entitled to the full benefit of section 80J of the Income-tax Act for the assessment year 1975-76, without proportionate reduction based on the working period of the industrial undertaking. The court directed verification of actual borrowals by the new unit and computation of capital as per the law. The Tribunal was tasked with recomputing the capital employed in the new unit, emphasizing that the company's funds invested in the new unit constituted capital and not a borrowal. Case-Laws Income Tax Thu, 15 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23543