https://www.taxtmi.com/caselaws?id=59948 The Appellate Tribunal held that the aggregate value of assets should be considered as capital employed in the industrial undertaking for the assessment year 1974-75, entitling the assessee firm to a deduction under section 80J of the Act. The Tribunal disagreed with the Appellate Assistant Commissioner's computation, emphasizing that liabilities such as development rebate reserve, central sales-tax, outstanding wages, and sundry creditors should not be included in the capital employed. The decision was based on the interpretation of rules, High Court decisions, and Tribunal rulings on capital computation for tax relief purposes. en-us Thu, 12 Apr 1979 00:00:00 +0530 Mon, 03 Jan 2011 10:17:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59948 The Appellate Tribunal held that the aggregate value of assets should be considered as capital employed in the industrial undertaking for the assessment year 1974-75, entitling the assessee firm to a deduction under section 80J of the Act. The Tribunal disagreed with the Appellate Assistant Commissioner's computation, emphasizing that liabilities such as development rebate reserve, central sales-tax, outstanding wages, and sundry creditors should not be included in the capital employed. The decision was based on the interpretation of rules, High Court decisions, and Tribunal rulings on capital computation for tax relief purposes. Case-Laws Income Tax Thu, 12 Apr 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59948