https://www.taxtmi.com/caselaws?id=24697 The High Court ruled in favor of including borrowed capital in computing capital employed for relief under section 80J of the Income-tax Act, 1961. It upheld the validity of rule 19A of Income-tax Rules, 1962, and found a violation of section 40A(7) in allowing relief for a gratuity provision. The court also addressed the liability to pay interest under section 215, emphasizing adherence to legal procedures for seeking waiver or reduction. The judgment provided a detailed analysis, citing legal principles and precedents, ensuring a comprehensive resolution based on thorough examination of facts and laws. en-us Mon, 27 Jan 1986 00:00:00 +0530 Thu, 21 Jan 2010 17:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24697 The High Court ruled in favor of including borrowed capital in computing capital employed for relief under section 80J of the Income-tax Act, 1961. It upheld the validity of rule 19A of Income-tax Rules, 1962, and found a violation of section 40A(7) in allowing relief for a gratuity provision. The court also addressed the liability to pay interest under section 215, emphasizing adherence to legal procedures for seeking waiver or reduction. The judgment provided a detailed analysis, citing legal principles and precedents, ensuring a comprehensive resolution based on thorough examination of facts and laws. Case-Laws Income Tax Mon, 27 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24697