2001 (1) TMI 986

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....s. 2. This is an application under section 256(2) of the Income-tax 1961 ('the Act') filed by the revenue for seeking direction to the Tribunal, Jaipur Bench, Jaipur, to state the case and refer the following questions of law said to be arising out of order passed by the Tribunal in IT Appeal No. 347 (Jp.) of 1994 for the assessment year 1991-92 to this Court for its opinion. 3. The facts which ....

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....ble to profit and gains from said industrial undertaking and forming part of gross total income of the assessee computed in accordance with the provisions of the Act. 4. The Assessing Officer after computing ₹ 1,85,671 as gross total income of the said industrial undertaking, which fulfils the conditions of both sections 80-I and 80HH, deducted 20 per cent from said gross total income as de....

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....urely on the interpretation of the provisions of Chapter IV-A in the matter of computing deduction permissible under various provisions made therein as in a question of law the aforesaid question of law does arise out of the Tribunal's order. The Tribunal was in error in rejecting the application under section 256(1) of the Act. 7. Accordingly, we allow this application under section 256(2) and d....