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2004 (10) TMI 80 - PUNJAB AND HARYANA HIGH COURTDeduction under section 80J - capital employed - "Whether Tribunal was right in law in directing the Assessing Officer to recomputed deduction under section 80J by including a sum of Rs. 1,50,000 in the capital employed." - In our opinion, the initial capital to the tune of Rs. 1,50,000 which stood employed in the business of the roller unit and transfer of the same to the sawgin unit did not entitle the assessee to include the said amount in capital employed under section 80J - Tribunal erred in holding that the capital of Rs. 1,50,000 would be attributed to the sawgin unit - In view of the above, the question referred to this court by the Tribunal, is answered in favour of the Revenue and against the assessee
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