1999 (6) TMI 11

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....and 80-I of the IT Act, 1961? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the ITO to allow deduction under s. 80HH or s. 80-I subject to the fulfilment of other conditions specified therein ? 3. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that non-maintenance of separate P&L A/c and balance sheets for three units could be regarded as an exceptional circumstance for computation of profits and gains on a reasonable basis as envisaged under the proviso to sub-s. (6) of s. 80HH and sub-s. (7) of s. 80HH? 4. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the di....

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...., the difficulty of apportioning the profits and gains from such undertakings should not be viewed as a disqualification. In other words, the Tribunal held that irrespective of the fact that there is no division of accounts, still they are entitled for the benefit of ss. 80HH and 80-I as having satisfied the conditions laid down under the said two sections. 3. At the instance of the Revenue the questions set out in the earlier paragraph were referred for opinion of this Court. 4. The learned counsel for the Revenue contended that since the profits of the three units cannot be divided, the assessee is not entitled for the benefit of s. 80HH and s. 80-I. We are unable to agree with the contention of the learned counsel. The section does....