1989 (9) TMI 63

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..... n to answer at the behest of the Revenue in this reference under section 256(1) of the Income-tax Act, 1961, reads thus : "Whether, on the facts and in the circumstances of the case, the assessee was entitled to 'relief under section 80J on the basis of inclusion in the capital employed, within the meaning of rule 19A(2) of the Income tax Rules,' 1962, of the amount of Rs. 7,00,111 , being the a .....

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..... as in transit. It would appear clear from the statement of the case that the assessee. had acquired the machinery in question and that, being in transit, it had not been installed and put to use. The case, accordingly, is covered by the decision of this court in CIT v. Alcock Ashdown and Co. Ltd. [1979] 119 ITR 164. The judgment concurred with the observations of the Calcutta High Court in CIT v .....

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