https://www.taxtmi.com/caselaws?id=37184 The High Court ruled in favor of the assessee, affirming the decisions of the Appellate Tribunal and the AAC. It held that the acquisition of the saw mill did not constitute a splitting up of an existing business, as the new venture was unrelated to the prior business activities. Therefore, the assessee was entitled to claim exemption under section 84 (now section 80J) of the Income-tax Act, 1961. The Court awarded costs and a hearing fee to the assessee. en-us Mon, 04 Sep 1978 00:00:00 +0530 Sat, 27 Mar 2010 11:45:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37184 The High Court ruled in favor of the assessee, affirming the decisions of the Appellate Tribunal and the AAC. It held that the acquisition of the saw mill did not constitute a splitting up of an existing business, as the new venture was unrelated to the prior business activities. Therefore, the assessee was entitled to claim exemption under section 84 (now section 80J) of the Income-tax Act, 1961. The Court awarded costs and a hearing fee to the assessee. Case-Laws Income Tax Mon, 04 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37184