https://www.taxtmi.com/caselaws?id=29494 The court ruled in favor of the assessee-company, holding that it was entitled to the exemption under Section 84 of the Income-tax Act for the assessment years in question. The court found that the new factory established by the company was an independent and viable unit, not merely a reconstruction of the existing business, as it had new capital, machinery, and personnel, producing distinct commodities. The court concluded that the company fulfilled all conditions under Section 84(2) and granted the exemption, awarding costs to the assessee. en-us Tue, 10 Feb 1981 00:00:00 +0530 Sat, 13 Mar 2010 12:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29494 The court ruled in favor of the assessee-company, holding that it was entitled to the exemption under Section 84 of the Income-tax Act for the assessment years in question. The court found that the new factory established by the company was an independent and viable unit, not merely a reconstruction of the existing business, as it had new capital, machinery, and personnel, producing distinct commodities. The court concluded that the company fulfilled all conditions under Section 84(2) and granted the exemption, awarding costs to the assessee. Case-Laws Income Tax Tue, 10 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29494