2001 (1) TMI 61

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....d for the opinion of this court under section 256(1) of the Income-tax Act, 1961: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessee's claim under section 80J for the assessment year 1972-73 should be determined in the assessment year 1975-76 and allowed in that year?" Since there are lots of factual angles involved, we ....

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.... 1979, under section 154 and a chart dated February 9, 1979, was issued wherein the deficiency for 1972-73 was not mentioned. It is too late now for the Revenue to contend that the direction given by the Commissioner of Income-tax (Appeals) in his earlier order dated January 20, 1979, is erroneous." In view of the findings recorded by the Tribunal its conclusion cannot be faulted. Therefore, th....