1989 (3) TMI 46

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....concerns deduction under section, 80J of the Income-tax Act, 1961, with reference to the capital employed by the assessee in the branch industrial undertaking. The assessee, Messrs. Kansal Hosiery Works, is engaged in an industrial activity in its branch unit. The accounts at its head office showed a credit balance of Rs. 15,60,987 and there was also development rebate reserve of Rs. 75,750, th....

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....pital of Rs. 13,87,875. This order was later confirmed in appeal by the Tribunal This is what constitutes the factual background leading to the following question being referred for the opinion of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in upholding the order of the Commissioner of Income-tax (Appeals) that the assessee was entitled to ded....