9911796707
TMI Blog1999 (12) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... ged before the Commissioner of Income-tax (Appeals), who, after hearing the parties, allowed the appeal partly. The matter was thereafter carried in appeal by the Revenue. However, on hearing the parties, the Tribunal dismissed the appeal preferred by the Revenue. Hence, the Revenue has preferred this appeal before this court. Five questions are raised before us, which are as under "(1) Whether the Appellate Tribunal is right in law and on facts in allowing the deduction under section 80L to the assessee-trust treating the status as individual? (2) Whether the Appellate Tribunal is right in law and on facts in deleting the addition of Rs. 1,99,12,300 being interest paid by the assessee-trust to its beneficiaries? (3) Whether the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sp; 12,83,785." So far as question No. 1 is concerned, the same is covered by the decision of this court in the case of CIT v. Deepak Family Trust (No.1) [1995] 211 ITR 575. Hence, no substantial question of law arises, and question No. 1 need not be referred. So far as question No. 2 is concerned, the same is covered by the decision in the case of CIT v. Tanvi Sajni Family Trust [1994] 209 ITR 497 (Guj). Therefore, qua this question also, no substantial question of law arises, and the question need not be referred. So far as questions Nos. 3 and 4 are concerned, the Tribunal, considering the material placed before it, arrived at a conclusion that the amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Application No. 70 of 1997 (CIT v. Norma Detergent P. Ltd.) had considered a similar question and held that "it was, however, found that the items of kasar and sale of empty soda ash bardans, are directly connected with the manufacturing activities of the asses see and should be allowed". It is required to be noted that if the assessee was not engaged in industrial activities, there was no question of empty barrels or bardans. Instead of manufacturing if the assessee was doing trading activities, i.e., dealing in raw material, and if the assessee had sold the material on retail basis and earned amount by sale of bardans, then obviously this section will not apply. In view of what we have stated hereinabove, we find that there is no meri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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