1988 (7) TMI 48

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....ome-tax, West Bengal IV, Calcutta, the following question of law for the assessment year 1976-77, has been referred to this court under section 256(1) of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that deduction under section 80J of the Income-tax Act, 1961, should not be computed proportionately with reference t....

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....apital and not to restrict the same with reference to the number of days the unit operated. The matter was brought before the Appellate Tribunal by the Revenue challenging the direction of the Commissioner of Income-tax (Appeals). The Appellate Tribunal noted that it was not disputed that the decision in the case of Simpson and Co. [1980] 122 ITR 283 (Mad) was applicable. It also noted that the Ap....