https://www.taxtmi.com/caselaws?id=38971 Relief under sections 84 and 101 of the Income-tax Act, 1961 is available where a newly established industrial undertaking satisfies the statutory conditions and earns assessable profits. The right to exemption is distinct from the subsequent computation of its quantum, so the tax authority cannot deny relief altogether merely because the assessee uses an apportionment method for capital and profit allocation. Composite accounts and turnover-based allocation may require verification or correction, but they do not by themselves defeat eligibility for exemption. The computation issue affects quantification, not entitlement, where the statutory requirements are otherwise met. en-us Fri, 03 Oct 1975 00:00:00 +0530 Sat, 10 Apr 2010 16:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38971 Relief under sections 84 and 101 of the Income-tax Act, 1961 is available where a newly established industrial undertaking satisfies the statutory conditions and earns assessable profits. The right to exemption is distinct from the subsequent computation of its quantum, so the tax authority cannot deny relief altogether merely because the assessee uses an apportionment method for capital and profit allocation. Composite accounts and turnover-based allocation may require verification or correction, but they do not by themselves defeat eligibility for exemption. The computation issue affects quantification, not entitlement, where the statutory requirements are otherwise met. Case-Laws Income Tax Fri, 03 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38971