https://www.taxtmi.com/caselaws?id=27698 The court held that the assessee-company, despite acquiring second-hand machinery from another entity, was entitled to relief under Section 80J of the Income Tax Act. The court interpreted the term "transfer" in a manner that aligned with the legislative intent of promoting new investments and industrial growth. The substantial investment made by the assessee in acquiring the machinery satisfied the essential condition of Section 80J, leading to the court granting relief in favor of the assessee. en-us Fri, 16 Mar 1984 00:00:00 +0530 Mon, 15 Feb 2010 15:01:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27698 The court held that the assessee-company, despite acquiring second-hand machinery from another entity, was entitled to relief under Section 80J of the Income Tax Act. The court interpreted the term "transfer" in a manner that aligned with the legislative intent of promoting new investments and industrial growth. The substantial investment made by the assessee in acquiring the machinery satisfied the essential condition of Section 80J, leading to the court granting relief in favor of the assessee. Case-Laws Income Tax Fri, 16 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27698