Section 80IA deduction allowed Transferred Machinery value not exceeds 20% of Total Value

PCIT Vs. Medley Pharmaceuticals Ltd. (Bombay High Court)

The Revenue rejected the claim on two grounds. Firstly, on the ground that the assessee had utilised old machinery, valuation of which was in excess of 20% of the total installed machinery. Secondly, that the Unit-2 was a mere extension of the existing Unit-1 and was not an independent manufacturing unit.

The Tribunal, however, in a detailed discussion contained in the impugned judgment, had rejected the contention. The Tribunal had

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