1987 (3) TMI 45

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....t, 1961, is made at the instance of the Revenue and raises the following question: " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was entitled to have deficiency under section 80J(3) of the Income-tax Act, 1961, worked out at the rate of 6% on the capital employed without regard to the period for which the industrial undertaking h....

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....er in proportion to the period during which it worked the machinery, the assessee was entitled to the relief of six per cent. of the capital employed for each of the two years without any limitation on any proportionate time basis. This view has also been taken by the Calcutta High Court in CIT v. Oyster Packagers (P.) Ltd. [1985] 152 ITR 471. Mr. Jetly has also fairly pointed out to a circular d....