2010 (4) TMI 16

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....n under Section 80-I of the Income Tax Act, 1961 for the Assessment Year 1990-91, which, according to the assessee, is the initial assessment year. The deduction was initially allowed by successive Assessing Officers for the initial Assessment Year 1990-91 and for six successive Assessment Years 1991-92 to 1996-97. For the Assessment Year 1997-98, the Assessing Officer allowed the deduction under ....

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....rt of the assessee for Financial year1988-89, relevant to the Assessment Year 1989-90, assessee had indicated sales of 346 engines manufactured before 31st March, 1989. Taking into account the said particulars of sales, the notice stated that the manufacturing/production of engines had allegedly started in the period, relevant to the Assessment Year 1989-90, and, consequently, assessee was not ent....

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....r of the Assessing Officer reopening the assessment, the assessee herein had preferred an Appeal to CIT(A). By his order dated 8th January, 2007 in Appeal No.65/P/03-04, the CIT(A) allowed deduction under Section 80-I for the Assessment Year 1997-98 on the ground that assembling of engine did not amount to manufacture for the purposes of claiming deduction under Section 80-I of the Income Tax Act,....