https://www.taxtmi.com/caselaws?id=38465 Relief under section 15C of the Indian Income-tax Act, 1922 was available to a newly established industrial undertaking unless it was formed by splitting up or reconstruction of an existing business, or by transfer of previously used building, machinery or plant in a material sense. The court noted that the machinery said to have come from the earlier business had been sold, left idle, or acquired only after production began, and that the reconditioned machine was of insignificant value. Mere acquisition of some second-hand machinery did not disqualify the undertaking from relief, and the assessee was held entitled to section 15C relief. en-us Wed, 06 Jul 1977 00:00:00 +0530 Tue, 06 Apr 2010 13:33:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38465 Relief under section 15C of the Indian Income-tax Act, 1922 was available to a newly established industrial undertaking unless it was formed by splitting up or reconstruction of an existing business, or by transfer of previously used building, machinery or plant in a material sense. The court noted that the machinery said to have come from the earlier business had been sold, left idle, or acquired only after production began, and that the reconditioned machine was of insignificant value. Mere acquisition of some second-hand machinery did not disqualify the undertaking from relief, and the assessee was held entitled to section 15C relief. Case-Laws Income Tax Wed, 06 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38465