https://www.taxtmi.com/caselaws?id=37001 The court ruled that the capital value of capital work-in-progress, land acquired during the accounting year, and stores in transit should be included in the capital employed for computing tax exemption under section 84. The value should be proportionately attributed to the profit-making units. Additionally, the court affirmed that the Tribunal was justified in allowing the development rebate for the internal telephone system installed in the factory area, as it qualifies as a plant and not an office appliance. The court ordered the opinion to be sent to the Tribunal for disposal of the appeal in accordance with this judgment, with no costs awarded in the reference. en-us Wed, 07 Mar 1979 00:00:00 +0530 Thu, 25 Mar 2010 18:18:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37001 The court ruled that the capital value of capital work-in-progress, land acquired during the accounting year, and stores in transit should be included in the capital employed for computing tax exemption under section 84. The value should be proportionately attributed to the profit-making units. Additionally, the court affirmed that the Tribunal was justified in allowing the development rebate for the internal telephone system installed in the factory area, as it qualifies as a plant and not an office appliance. The court ordered the opinion to be sent to the Tribunal for disposal of the appeal in accordance with this judgment, with no costs awarded in the reference. Case-Laws Income Tax Wed, 07 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37001