https://www.taxtmi.com/caselaws?id=39093 Section 15C relief was not denied merely because some previously used machinery from an old factory was transferred into a new textile unit. The Bombay HC treated the statutory bar in section 15C(2)(i) as applying only where the industrial undertaking is formed by transfer of used building, machinery or plant, and gave the word "formed" its full meaning. Because the transferred items were only a minor and insignificant part of the new undertaking, which was substantially set up with fresh land, buildings, imported machinery and capital, the exemption remained available to the assessee. en-us Fri, 06 Dec 1974 00:00:00 +0530 Mon, 12 Apr 2010 14:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39093 Section 15C relief was not denied merely because some previously used machinery from an old factory was transferred into a new textile unit. The Bombay HC treated the statutory bar in section 15C(2)(i) as applying only where the industrial undertaking is formed by transfer of used building, machinery or plant, and gave the word "formed" its full meaning. Because the transferred items were only a minor and insignificant part of the new undertaking, which was substantially set up with fresh land, buildings, imported machinery and capital, the exemption remained available to the assessee. Case-Laws Income Tax Fri, 06 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39093