https://www.taxtmi.com/caselaws?id=25386 For Section 80J relief, borrowed capital is excluded from the computation of capital, following the Supreme Court view in Lohia Machines Ltd., so the deduction base does not include such funds. The statutory deduction rate of 6% per annum applies for the full year and is not reduced merely because the undertaking operated for less than twelve months, as reflected in Sanghi Beverages (Pvt.) Ltd. The reference was thus resolved on divided answers: borrowed capital was excluded, while the full-year annual rate remained admissible. en-us Thu, 21 Mar 1985 00:00:00 +0530 Thu, 28 Jan 2010 12:40:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25386 For Section 80J relief, borrowed capital is excluded from the computation of capital, following the Supreme Court view in Lohia Machines Ltd., so the deduction base does not include such funds. The statutory deduction rate of 6% per annum applies for the full year and is not reduced merely because the undertaking operated for less than twelve months, as reflected in Sanghi Beverages (Pvt.) Ltd. The reference was thus resolved on divided answers: borrowed capital was excluded, while the full-year annual rate remained admissible. Case-Laws Income Tax Thu, 21 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25386