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1985 (1) TMI 1 - SC - Income Tax
Interpretation of s. 80J - validity of rule 19A - constitutionality of the retrospective amendment made in s. 80J, by the Finance (No. 2) Act, 1980 - held that Rule 19A(3) of IT Rules 1962 which excludes borrowed monies and debts and long term borrowings in the computation of "capital employment" by a new industrial undertaking for purposes of s. 80J is valid and within the authority conferred on CBDT under s. 80J
