https://www.taxtmi.com/caselaws?id=37007 The High Court of Madras interpreted relief under section 84 of the Income Tax Act for an assessee company. The court ruled in favor of the assessee, holding that the relief of 6% on capital employed should not be limited proportionately to the period of machinery usage but granted for each of the five years as intended by the statute. The court emphasized liberal construction of exemption provisions to uphold benefits granted by Parliament, ultimately allowing the assessee to receive the full relief without time limitations. en-us Tue, 13 Nov 1979 00:00:00 +0530 Thu, 25 Mar 2010 18:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37007 The High Court of Madras interpreted relief under section 84 of the Income Tax Act for an assessee company. The court ruled in favor of the assessee, holding that the relief of 6% on capital employed should not be limited proportionately to the period of machinery usage but granted for each of the five years as intended by the statute. The court emphasized liberal construction of exemption provisions to uphold benefits granted by Parliament, ultimately allowing the assessee to receive the full relief without time limitations. Case-Laws Income Tax Tue, 13 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37007