2006 (12) TMI 100

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....G J.- This judgment would dispose of two I. T. A. Nos. 81 and 82 of 2006, as common questions of law and facts are involved in both these appeals. The facts are being taken from I. T. A. No. 81 of 2006. The instant appeal has been filed by proposing the following questions of law for consideration: "(a) Whether on the facts and in the circumstances of the case the hon'ble Income-tax Appellat....

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.... by the Assessing Officer vide order dated March 11, 1992, for the assessment year 1988-89. The assessee had made a claim of Rs. 27,61,348 under section 35 of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). The total cost of assets on account of scientific research has been given as Rs. 36,57,523. The total cost of land and depreciation thereon have been quantified as Rs. 1,50,350....

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....d. The Revenue felt aggrieved by the aforesaid order and challenged the same by way of an appeal before the Income-tax Appellate Tribunal, Delhi Bench, New Delhi. The appeal has been dismissed, vide order dated June 27, 2005, which has been questioned in the instant appeal by way of proposing the aforesaid questions of law. The question considered by the Tribunal is : Whether as per the prov....

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....f the business eligible for deduction under section 32AB would get reduced. Resultantly, the Tribunal has held that the order under section 154 of the Act, had been wrongly passed by the Assessing Officer. The order of the Commissioner of Income-tax (Appeals) has been upheld. Learned counsel for the appellant has not been able to address any meaningful argument to controvert the view taken by t....