https://www.taxtmi.com/caselaws?id=25919 The Tribunal and High Court ruled in favor of the assessee in interpreting relief under section 84 of the Income-tax Act, 1961 for specific assessment years, finding the new units qualified as "newly established industrial undertakings." Additionally, the Tribunal allowed the deduction of a sum of Rs. 358,000 as revenue expenditure for the assessment year 1966-67, considering the provision for bonus payment as a valid liability. The High Court upheld both decisions, emphasizing the substantial increase in output and capital and the adherence to legal principles. Costs were not awarded to either party. en-us Mon, 27 Jan 1986 00:00:00 +0530 Mon, 01 Feb 2010 16:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25919 The Tribunal and High Court ruled in favor of the assessee in interpreting relief under section 84 of the Income-tax Act, 1961 for specific assessment years, finding the new units qualified as "newly established industrial undertakings." Additionally, the Tribunal allowed the deduction of a sum of Rs. 358,000 as revenue expenditure for the assessment year 1966-67, considering the provision for bonus payment as a valid liability. The High Court upheld both decisions, emphasizing the substantial increase in output and capital and the adherence to legal principles. Costs were not awarded to either party. Case-Laws Income Tax Mon, 27 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25919