TaxTMI 
TaxTMI 
1982 (7) TMI 21
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.... notices dated 4th March, 1976, issued u/s. 148 read with s. 147 of the I.T. Act, 1961, and similar notices issued u/s. 8 of the Surtax Act. Consequential relief is also sought. It would appear from the annexure to the affidavit-in-reply of the ITO, Company Circle VI(5), Bombay, that the assessee-company had claimed deduction u/s. 80-1 and extra development rebate u/s. 33 of the I.T. Act, 1961, o....
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....the report made by the ITO to the Commissioner may be set out: "If the assessee had it any time brought to the notice of the ITO that its products are in fact manufactured from the basic raw material, Di Methyl Torythalate, the claim of the assessee would not have been accepted as this raw material is not like calcium carbide, ethyl alcohol or hydrocarbons from other sources. It is also now ascer....
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....v. Nirlon Synthetic Fibres and Chemicals Ltd. [1981] 130 ITR 14, and another judgment in the same volume at page 23, (J. K. Synthetics Ltd. v. CIT). He has also pointed out that for the assessment years 1969-70 and 1970-71 the Income-tax Appellate Tribunal has upheld the claim of the very same assessee (the petitioner company) for relief under s. 80-1 and higher development rebate applying the pri....
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....tention by the assessee's learned counsel that the reference sought for by the Revenue in that case has been rejected by the Tribunal and a further attempt by the Revenue to get a direction from the High Court to the Tribunal to state the case was also unsuccessful. This is not disputed by the learned departmental representative. " It is clear that the assessee had made a claim on the footing whi....