https://www.taxtmi.com/caselaws?id=39349 The court ruled in favor of the assessee, holding that the figure arrived at by computation under rule 19(5) should be added to the figure arrived at by computation under rule 19(1) for determining the average capital employed in an industrial undertaking. The judgment emphasized the significance of the fiction in sub-rule (5) to accurately ascertain the capital employed and support the legislative intent of granting a tax holiday for new industrial undertakings. No costs were awarded due to the interpretative nature of the issue. en-us Wed, 12 Sep 1973 00:00:00 +0530 Thu, 15 Apr 2010 17:21:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39349 The court ruled in favor of the assessee, holding that the figure arrived at by computation under rule 19(5) should be added to the figure arrived at by computation under rule 19(1) for determining the average capital employed in an industrial undertaking. The judgment emphasized the significance of the fiction in sub-rule (5) to accurately ascertain the capital employed and support the legislative intent of granting a tax holiday for new industrial undertakings. No costs were awarded due to the interpretative nature of the issue. Case-Laws Income Tax Wed, 12 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39349