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Relief to new industrial undertakings-Computation of the capital employed in the undertakings-Section 80J(1A) of the Income-tax Act, 1961
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...., 1961, provides that in computing the taxable income of an assessee from a newly established industrial undertaking, ship or business of hotel, a deduction shall be allowed at the rate of 6 per cent. (with effect from 1-4-1976 at the rate of 7.5 per cent. in the case of a company) of the capital employed in the industrial undertaking, ship or business of the hotel. Rule 19A of the Income-tax Rule....