1989 (2) TMI 59 - HC - Income Tax

Summary

The High Court of Punjab and Haryana ruled in favor of the assessee regarding deduction under section 80J of the Income-tax Act, 1961, in respect of the value of assets under installation amounting to Rs. 14,05,380. The Tribunal's decision was upheld based on the consistent view of various High Courts supporting the assessee's claim. The reference was answered in the affirmative, and there was no order as to costs.