https://www.taxtmi.com/caselaws?id=27594 The Court, aligning with the interpretations of the Madras and Karnataka High Courts, held that the deduction under section 80J cannot be reduced proportionately based on the period of operation. The relief at 6% per annum on the capital employed is available for each year of operation, and once the capital is determined, the exemption must be extended regardless of the duration of operation during the relevant year. The Court answered the reference question affirmatively and in favor of the assessee, emphasizing entitlement to full relief under section 80J without restriction to the operational period. en-us Mon, 14 Jan 1985 00:00:00 +0530 Sat, 13 Feb 2010 17:31:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27594 The Court, aligning with the interpretations of the Madras and Karnataka High Courts, held that the deduction under section 80J cannot be reduced proportionately based on the period of operation. The relief at 6% per annum on the capital employed is available for each year of operation, and once the capital is determined, the exemption must be extended regardless of the duration of operation during the relevant year. The Court answered the reference question affirmatively and in favor of the assessee, emphasizing entitlement to full relief under section 80J without restriction to the operational period. Case-Laws Income Tax Mon, 14 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27594