1980 (12) TMI 69 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Bangalore allowed the appeal of the assessee for the assessment year 1977-78 related to relief under sections 80J, 80HH, and 32A. The Tribunal held that converting paddy into rice amounts to 'production' as per relevant legal precedents, reversing the decision of the lower authorities. The ITO was directed to revise the assessment accordingly.