S. 80IB – CIT V/s. Finolex Cables Ltd. (Bombay High Court)

Whether where substantial investment has been made and the new plant and machinery is installed in the newly constructed building it can be said that assessee has set-up a new industrial undertaking and it is not the expansion of earlier unit and hence the depreciation of such unit is not to be set-off with the income of that unit which enjoys deduction u/s 80I.

The material on the record before the Tribunal and which has been considered in some detail is sufficient to sustain the finding of fact that: (i) The

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