https://www.taxtmi.com/caselaws?id=55658 The Appellate Tribunal, ITAT Ahmedabad-B, ruled in favor of the taxpayer, holding that the formation of a new firm for a different business activity did not constitute splitting up of an existing business under sections 80J and 80HHA. The Tribunal emphasized the legislative intent to promote industrial growth by incentivizing new industrial undertakings. It concluded that the new firm's operations in a distinct sector with separate plant and machinery aligned with the statutory objectives, upholding the CIT(A)'s decision to cancel the orders passed under section 154 and allowing the taxpayer's appeals for all years. en-us Thu, 18 Jul 1991 00:00:00 +0530 Mon, 29 Nov 2010 12:38:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55658 The Appellate Tribunal, ITAT Ahmedabad-B, ruled in favor of the taxpayer, holding that the formation of a new firm for a different business activity did not constitute splitting up of an existing business under sections 80J and 80HHA. The Tribunal emphasized the legislative intent to promote industrial growth by incentivizing new industrial undertakings. It concluded that the new firm's operations in a distinct sector with separate plant and machinery aligned with the statutory objectives, upholding the CIT(A)'s decision to cancel the orders passed under section 154 and allowing the taxpayer's appeals for all years. Case-Laws Income Tax Thu, 18 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55658