https://www.taxtmi.com/caselaws?id=25982 The court ruled in favor of the assessee regarding the inclusion of capital work-in-progress in the computation of 'capital employed' for relief under section 80J of the Income-tax Act, 1961. The court upheld the Tribunal's decision, stating that the factual aspect of the employment of capital work-in-progress on the first day of the accounting period was not disputed by the Revenue. However, the court sided with the Revenue on the exclusion of accrued proportionate interest on borrowed capital for computing capital under section 80J, following the Supreme Court's precedent. The issue regarding the admissibility of grounds related to the computation of capital employed was not addressed further in the judgment. en-us Tue, 03 Jun 1986 00:00:00 +0530 Tue, 02 Feb 2010 11:12:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25982 The court ruled in favor of the assessee regarding the inclusion of capital work-in-progress in the computation of 'capital employed' for relief under section 80J of the Income-tax Act, 1961. The court upheld the Tribunal's decision, stating that the factual aspect of the employment of capital work-in-progress on the first day of the accounting period was not disputed by the Revenue. However, the court sided with the Revenue on the exclusion of accrued proportionate interest on borrowed capital for computing capital under section 80J, following the Supreme Court's precedent. The issue regarding the admissibility of grounds related to the computation of capital employed was not addressed further in the judgment. Case-Laws Income Tax Tue, 03 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25982