Bombay High Court
Commissioner Of Income-Tax vs Carter-Wallace Ltd. on 7 December, 1988
Equivalent citations: 1989 177 ITR 349 Bom
Bench: S Bharucha, T Sugla
JUDGMENT
S.P. Bharucha, J.
1. The question for consideration at the instance of the Revenue reads thus:
“Whether, on the interpretation of the provisions of section 80J of the Income-tax, 1961, the assessee is entitled to relief under the said section at 6 per cent. of the capital employed in the new industrial undertaking even though the factory had worked for only the last 175 days of the previous year relevant to the assessment year 1969-70 ?”
2. Counsel are agreed that the question must be answered in the affirmative and in favour of the assessee in view of this court’s decision in CIT v. Godrej Soaps Pvt. Ltd. [1988] 169 ITR 537.
3. The question is so answered.
4. No order as to costs.