https://www.taxtmi.com/caselaws?id=27705 The court ruled in favor of the Revenue regarding the deduction under section 80J(3) for the assessment year 1970-71. However, the court favored the assessee in allowing the deduction of 8% of profit and gains before setting off unabsorbed development rebate from the assessment year 1967-68. Additionally, the court upheld the finding that commercial production commenced in November 1961, not in July 1960 as claimed by the Revenue. Lastly, the court supported the Tribunal's decision to carry forward deficiency under section 84 and set it off against the profit for the year 1970-71. en-us Tue, 03 Jul 1984 00:00:00 +0530 Mon, 15 Feb 2010 15:19:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27705 The court ruled in favor of the Revenue regarding the deduction under section 80J(3) for the assessment year 1970-71. However, the court favored the assessee in allowing the deduction of 8% of profit and gains before setting off unabsorbed development rebate from the assessment year 1967-68. Additionally, the court upheld the finding that commercial production commenced in November 1961, not in July 1960 as claimed by the Revenue. Lastly, the court supported the Tribunal's decision to carry forward deficiency under section 84 and set it off against the profit for the year 1970-71. Case-Laws Income Tax Tue, 03 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27705