1993 (1) TMI 120

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....asis, interpreted in any way. He further held that normally it had ranged between 5 to 10 depending on the workload of the appellant. He, however, allowed relief to the assessee on the ground that the assessee had been allowed the deduction under section 80-I in the first year of operation and since Single Member of this Bench had held in the case of ITO v. Mahavir Rubber Works [1983] Tax World 401, a copy of which has been filed before us that if the allowance under section 80-I had been allowed in the first year to an assessee even under section 143(1), it could not be denied in the subsequent years. We may mention here that the learned counsel for the assessee had raised some arguments regarding the correctness of the findings on facts b....

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....y profits and gains derived from an industrial undertaking to which this section, namely, section 80-I applies. As per section 80-I(2) this section applies to any industrial undertaking which fulfills all the conditions given in 4 clauses of that sub-section. Clause (iv) of sub-section (2) requires that where industrial undertaking produces or manufactures articles or things, the undertaking should employ ten or more workers in a manufacturing process carried on with the aid of power. Thus, in every year whether it is the first year or the second year or third year or any subsequent year till the deductions under section 80-I are permissible, the ITO has to satisfy himself that the gross total income of the concerned assessee includes any p....