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TMI Blog2007 (7) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... 33 of 1999 - - - Dated:- 19-7-2007 - JUDGMENT The judgment of the court was delivered by M.M. KUMAR, J. 1. This order shall dispose of I.T.C. Nos. 33 and 34 of 1999.The prayer made by the assessee in both the petitions filed under Section 256(2) of the Income-tax Act, 1961 (for brevity, 'the Act'), is for issuance of direction to the Income Tax Appellate Tribunal, Delhi Bench, New Del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... forementioned question emerges out the orders referred above. A perusal of the record shows that the Assistant Commissioner of Income-tax framed the assessment but did not allow the claim of the assessee under Section 80-I of the Act on the ground that the assessee cannot be regarded as an industrial undertaking, which may be covered by the necessary conditions envisaged by Section 80-I of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s goods from an outside agency would not be regarded as an industrial undertaking within the meaning of Section 80-I of the Act and, therefore, would not qualify to claim deduction. According to the learned counsel, a contrary view has been expressed by other High Courts, which is in favour of the assessee, namely, Commissioner of Income-tax v. Penwalt India Ltd., (1992) 196 ITR 813 (Bom.); Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no view expressed by Hon'ble the Supreme Court or this Court which is jurisdictional High Court. However, he has pointed out that the view contrary to Madras High Court, taken by other High Courts, has been expressed after the Tribunal has declined the application of the assessee filed under Section 256(1) of the Act. 5. We have thoughtfully considered the submissions made by the learned coun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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