https://www.taxtmi.com/caselaws?id=27683 The High Court ruled against the assessee, holding that the transfer of machinery by lease during the formation of the new industrial undertaking disqualified the assessee from claiming relief under section 84. The court emphasized that the term "transfer" in section 84(2)(ii) includes leases, thereby denying the assessee's entitlement to relief. The court ordered the assessee to pay the costs of the Revenue, including counsel's fee of Rs. 500. en-us Wed, 28 Sep 1983 00:00:00 +0530 Mon, 15 Feb 2010 13:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27683 The High Court ruled against the assessee, holding that the transfer of machinery by lease during the formation of the new industrial undertaking disqualified the assessee from claiming relief under section 84. The court emphasized that the term "transfer" in section 84(2)(ii) includes leases, thereby denying the assessee's entitlement to relief. The court ordered the assessee to pay the costs of the Revenue, including counsel's fee of Rs. 500. Case-Laws Income Tax Wed, 28 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27683