1991 (4) TMI 93

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... as claimed by the assessee and allowed by the Income-tax Officer as per section 2(5)(a)(ii) of the Finance Acts of 1966 and 1967 in the order passed under section 154 for the assessment years 1966-67 and 1967-68 ?" The assessee-company, inter alia, is an exporter of tea. While completing the assessments originally, the Income-tax Officer had not considered the assessee's claim for rebate on export of tea which the assessee had claimed in its returns. The assessee invited the Income-tax Officer's attention by writing two separate letters to the effect that he had not considered the assessee's claim. The Income-tax Officer passed orders under section 154 for the two years on May 7, 1971, and allowed rebate on export profits as per the asses....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the Finance Act, 1966. Accordingly, the Tribunal confirmed the order of the Additional Commissioner. Placing reliance on the Calcutta High Court decision in the case of G. A. Renderian Ltd. v. CIT [1984] 145 ITR 387 and the Gujarat High Court decision in the case of CIT v. Ajay Printery Pvt. Ltd. [1966] 58 ITR 811, Shri Mehta tried to support his claim that blending of tea constituted manufacturing activity. He pointed out that, in the Calcutta case, the facts were identical. The question considered was whether the assessee was an industrial company under section 2(7)(c) of the Finance Act, 1978, and the court held that it was so. In the Gujarat case, the assessee was carrying on the business of a printing press. It was printing calendars....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...." occurring in Explanation II to section 23A of the Indian Income-tax, 1922. We have already stated that, in section 2(5)(a)(ii) of the Finance Acts, 1966 and 1967, the expression "processing of goods" is conspicuous by its absence. For the sake of ready reference, it is desirable to refer to the provisions of section 2(5)(a)(ii) applicable for the assessment years 1966-67 and 1967-68: "(5)(a) In respect of any assessment for the assessment year commencing on the 1st day of April, 1966, in the case of an assessee being domestic company or an assessee other than a company.... (ii) where he is engaged in the manufacture of any articles in an industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 (6....