https://www.taxtmi.com/caselaws?id=29354 Industrial undertaking relief under section 15C of the Indian Income-tax Act, 1922 was not denied where the new unit was established mainly with newly purchased machinery and the old machinery transferred from another business was only a minor fraction of the total plant. The transferred machinery was not of such vital importance that the undertaking could be said to have been formed by its transfer, especially since a substantial part of it was later returned without affecting manufacturing activity. The point was treated as one of fact, and the contention that the transfer agreement itself made the old machinery decisive was rejected. The issue was answered in favour of the assessee. en-us Tue, 19 Jan 1982 00:00:00 +0530 Fri, 12 Mar 2010 13:25:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29354 Industrial undertaking relief under section 15C of the Indian Income-tax Act, 1922 was not denied where the new unit was established mainly with newly purchased machinery and the old machinery transferred from another business was only a minor fraction of the total plant. The transferred machinery was not of such vital importance that the undertaking could be said to have been formed by its transfer, especially since a substantial part of it was later returned without affecting manufacturing activity. The point was treated as one of fact, and the contention that the transfer agreement itself made the old machinery decisive was rejected. The issue was answered in favour of the assessee. Case-Laws Income Tax Tue, 19 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29354