1998 (11) TMI 38

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....he following question of law at the instance of the Revenue has been referred to us : "Whether, the Appellate Tribunal was correct in law on the facts and in the circumstances of the case in holding that in working out the quantum of relief allowance under section 80J, the gross amount of profits and pins from a new industrial undertaking included in the total income should be taken and not the....

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....ire income from the new industrial undertaking that is before the set off of deficit amounts brought forward. The Commissioner held that the relief due would be Rs. 1,66,184 and not Rs. 79,837. On further appeal, the Tribunal upheld the findings of the Commissioner of Income-tax (Appeals). For the assessment year 1974-75, the Income-tax Officer did not allow any deduction under section 80J. But, t....