1985 (12) TMI 122

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..... Nov., 1973 for carrying on the business of exhibitor cinemagraph films. For the asst. yr. 1975-76 it closed its accounts on 31st Dec., 1974. However, in this manner the previous year of the assessee extended over a period of more than 12 month which required the approval from the CBDT. Since the assessee had not received such approval the ITO took the period of 12 months ending on 27th Nov., 1974 .....

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..... n cost of machinery of Rs. 1,31,497 only. This mistake of restricting claim appears to have been realised by the assessee and though the ld. CIT(A) allowed the Appeal of the assessee for the claim of development rebate of Rs. 19,725 the assessee has filed appeal before the Tribunal claiming that the ld. CIT(A) has erred in not considering and allowing the development rebate on cost of furnitures a .....

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..... ng from the accounting period actually followed by the assessee could not be appreciated in proper perspective and in the result there was no proper consideration of the allowance of development rebate. In this way, when the issue came before the ld. CIT(A) he had to ask the assessee to quantify the claim which the ld. counsel for the assessee inadvertently restricted to an amount, which did not r .....

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..... n of the entire claim which includes claim regarding other items because this claim was in fact before the ITO and he rejected it. However, at this state the claim of the assessee cannot be examined by us on merits. The first appellate authority should have an opportunity to examine the claim and determine its admissibility with regard to the quantum, etc. The assessee had shown to us during the c .....

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..... fortified by the following judgement which were also relied upon by the ld. counsel for the assessee. (i) Hukamchand Mills Ltd. vs. CIT (1967) 63 ITR 232 (SC) (ii) CIT vs. Mahalaxmi Textile Mills (1967) 66 ITR 710 (SC) (iii) CIT vs. Indian Express (Madurai) (P) Ltd. (1983) 33 CTR (Mad) 314 : (1983) 140 ITR 705 (Mad) (iv) CIT vs. Pierce Leslie Co. Ltd. (1984) 38 CTR (Mad) 309 : (1984) 147 .....

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