https://www.taxtmi.com/caselaws?id=28020 For computing capital employed under section 80J, only liabilities actually due on the relevant date are deductible under rule 19A(3); interest that had not fallen due on the first day of the accounting year could not be excluded. The Court also accepted inclusion of payments made for capital assets in capital employed under rule 19A(2), following binding precedent on the same point. On both issues, the computation was upheld in favour of the assessee, and relief under section 80J was allowed. en-us Fri, 30 Sep 1983 00:00:00 +0530 Wed, 17 Feb 2010 13:53:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28020 For computing capital employed under section 80J, only liabilities actually due on the relevant date are deductible under rule 19A(3); interest that had not fallen due on the first day of the accounting year could not be excluded. The Court also accepted inclusion of payments made for capital assets in capital employed under rule 19A(2), following binding precedent on the same point. On both issues, the computation was upheld in favour of the assessee, and relief under section 80J was allowed. Case-Laws Income Tax Fri, 30 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28020