https://www.taxtmi.com/caselaws?id=797799 Section 80-IE eligibility is not defeated merely because an undertaking is acquired from an associated concern while under construction, provided it is not formed by splitting up or reconstruction and previously used plant and machinery does not exceed the permitted limit. Re-computation of eligible profits under section 80-IA(10) requires cogent evidence that closely connected parties arranged their business to generate more than ordinary profits; close connection, survey statements, and turnover-based expense allocation alone are insufficient. No further disallowance of working-partner remuneration arises where it has already been added back. An area-based central excise incentive intended to promote industrial development and employment is a capital receipt, excluded from total income and eligible profits under section 80-IE. en-us Mon, 24 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797799 Section 80-IE eligibility is not defeated merely because an undertaking is acquired from an associated concern while under construction, provided it is not formed by splitting up or reconstruction and previously used plant and machinery does not exceed the permitted limit. Re-computation of eligible profits under section 80-IA(10) requires cogent evidence that closely connected parties arranged their business to generate more than ordinary profits; close connection, survey statements, and turnover-based expense allocation alone are insufficient. No further disallowance of working-partner remuneration arises where it has already been added back. An area-based central excise incentive intended to promote industrial development and employment is a capital receipt, excluded from total income and eligible profits under section 80-IE. Case-Laws Income Tax Mon, 24 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797799