1994 (4) TMI 4

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.... Government of India, when approached by the company, granted a letter of intent permitting escalation of the capacity from 1,500 M.T. to 5,000 M.T. and the letter of intent was later converted into an industrial licence. On completion of this scheme, the installed capacity was increased from 1,500 M.T. to 3,000 M.T. per annum. Commissioning of the project was done on June 29, 1979. In respect of the assessment year 1981-82, a claim was made by the assessee claiming deduction under section 80J of the Income-tax Act and the same was allowed by the Income-tax Officer. The Commissioner of Income-tax, however, in exercise of his revisional jurisdiction under section 263 withdrew the deduction taking the view that the expansion of the project di....

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....he Appellate Tribunal is correct in law in holding that the assessee is not eligible for deduction under section 80J for the assessment year 1981-82 being second year, when in fact for the assessment year 1980-81 being first year, the deduction has been allowed ? 3. Whether, on the facts and circumstances of the case, the inference drawn by the Tribunal is contrary to the facts on record and perverse ?" The Tribunal negatived the request of the assessee taking the view that only findings and questions of fact were recorded by it to the effect that no new industrial undertaking has come into existence and, there fore, no question of law would arise for reference to this court. Sri Kodandaram, learned counsel for the assessee, conten....