1996 (1) TMI 69 - HC - Income Tax

Summary

The High Court of Kerala ruled against the assessee in a case involving deduction under section 80J of the Income-tax Act, 1961 for a cellulose film plant. The Tribunal had previously determined that the plant was not a new industrial unit but an expansion of an existing business, leading to the rejection of the deduction claim. The court upheld this decision based on previous rulings, concluding in favor of the Revenue and against the assessee on both questions referred.