2002 (2) TMI 43

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....ax Act, 1961, should be allowed from the total income which is not confined to the income of the (new) units?" Similarly, in I.T.R. No. 164 of 1988 for the assessment year 1982-83, the following question of law was raised by the Income-tax Appellate Tribunal for the opinion of this court "Whether, on the facts and in the circumstances of the case, and in law, the Tribunal was right in coming to the conclusion that the relief under section 80J of the Income-tax Act should be allowed from the total income (which is not confined to the income) of the new units?" Since a common issue is involved in both the references, the same is disposed of by this common judgment. The facts, giving rise to the present controversy, as narrated by the....

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....to the benefit under section 80J from the total income which was not confined to the income from the new units only. It is pertinent to note that the Revenue has not challenged the finding given by the Tribunal in its appeal before the Tribunal. No dispute now, therefore, remains with regard to the fact that the units started by the assessee were the new units as the cost as well as the profit of the new units were separately shown by the assessee. The Revenue has come in the reference before us only on the issue as to whether the relief under section 80J of the Income-tax Act should be allowed from the total income of the assessee or it is confined to the income from the new units. We have heard Mr. B.B. Naik, learned standing counse....