https://www.taxtmi.com/caselaws?id=26343 The High Court ruled in favor of the assessee, affirming that once the necessary conditions were met, including the distinct nature of the new product and the use of new machinery, relief under section 80J should be granted. The Court held that the absence of a separate factory building for the new machinery did not disqualify the assessee from claiming the benefit, emphasizing that the key factors were the distinct nature of the new product, the use of new machinery, and the infusion of fresh capital. The Court upheld the Tribunal's earlier order and decisions of the Appellate Assistant Commissioner and the Tribunal in favor of the assessee. en-us Mon, 20 Aug 1984 00:00:00 +0530 Thu, 04 Feb 2010 13:06:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26343 The High Court ruled in favor of the assessee, affirming that once the necessary conditions were met, including the distinct nature of the new product and the use of new machinery, relief under section 80J should be granted. The Court held that the absence of a separate factory building for the new machinery did not disqualify the assessee from claiming the benefit, emphasizing that the key factors were the distinct nature of the new product, the use of new machinery, and the infusion of fresh capital. The Court upheld the Tribunal's earlier order and decisions of the Appellate Assistant Commissioner and the Tribunal in favor of the assessee. Case-Laws Income Tax Mon, 20 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26343