https://www.taxtmi.com/caselaws?id=37249 A physically separate unit set up with fresh capital, distinct plant and process, different raw materials and outputs, and capable of independent operation was treated as a new industrial undertaking; the fact that its products were used in the existing business or that separate accounts were not kept did not negate relief under section 15C. An advance made in the course of business to secure raw material supply was treated as a trade debt arising from business operations, so its write-off was deductible as a bad debt rather than a capital loss. en-us Mon, 30 Jan 1978 00:00:00 +0530 Sat, 27 Mar 2010 16:07:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37249 A physically separate unit set up with fresh capital, distinct plant and process, different raw materials and outputs, and capable of independent operation was treated as a new industrial undertaking; the fact that its products were used in the existing business or that separate accounts were not kept did not negate relief under section 15C. An advance made in the course of business to secure raw material supply was treated as a trade debt arising from business operations, so its write-off was deductible as a bad debt rather than a capital loss. Case-Laws Income Tax Mon, 30 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37249