https://www.taxtmi.com/caselaws?id=24151 For section 80J relief, rule 19A governs computation of capital employed and cannot be ignored; debts and liabilities must be taken into account rather than excluded. The assessee's challenge on these points fails under the Supreme Court ruling in Lohia Machines Ltd. Machinery under installation may be included in capital employed where binding precedent requires its inclusion, supporting the assessee's claim on that issue. The resulting computation applies rule 19A while recognising qualifying machinery under installation in determining capital employed. en-us Mon, 20 Mar 1989 00:00:00 +0530 Mon, 18 Jan 2010 10:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24151 For section 80J relief, rule 19A governs computation of capital employed and cannot be ignored; debts and liabilities must be taken into account rather than excluded. The assessee's challenge on these points fails under the Supreme Court ruling in Lohia Machines Ltd. Machinery under installation may be included in capital employed where binding precedent requires its inclusion, supporting the assessee's claim on that issue. The resulting computation applies rule 19A while recognising qualifying machinery under installation in determining capital employed. Case-Laws Income Tax Mon, 20 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24151