1995 (6) TMI 53

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....r section 80J for assessment year 1981-82. As per section 80J(2) of the Act, this deduction was allowable in the initial assessment year and each of the four assessment years immediately succeeding the initial assessment year. 3. The Assessing Officer did not make any discussion in the assessment order passed by him. The assessee moved an application for rectification in which, inter alia, deduction under section 80J for assessment year was claimed. The Assessing Officer disposed of the application vide his order under section 154 dated 16-6-1989. He was of the opinion that though as a result of change in the accounting period of the assessee, no assessment was framed for assessment year 1982-83, but for purposes of computing the number ....

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....the assessment year in the assessee's case and if there was no assessment order for a particular assessment year after the initial year, that assessment year had to be excluded. It was, therefore, submitted that since on account of change of accounting period, there was no assessment for assessment years 1982-83 in the assessee's case, that assessment year had to be excluded for purposes of computing four succeeding assessment years. The submission was that since there was no assessment year 1982-83 in the assessee's case, that could not be included in computing four assessment years in which relief under section 80J was admissible, to the assessee in addition to the initial year. According to the learned Counsel for the assessee the 'asses....

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....lief under section 80J for assessment year 1973-74. The first appellate authority and the Tribunal upheld the order of the Income-tax Officer. On a reference,the High Court held that the assessee had obtained relief under section 80J of the Act for assessment year 1968-69 and, therefore, subsequent four assessment years in which the assessee was entitled to claim relief under section 80J(2) were assessment years 1969-70 to 1972-73. Hence, according to the High Court, the last assessment year in which the assessee was entitled to relief under section 80J would be the assessment year 1972-73. From the above, it would appear that the facts in the instant case are similar to those found in the case of Rockweld Electrodes India Ltd. In the asses....