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TMI Blog2002 (2) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... the new units?" - we are of the view that the Tribunal has not committed any error while holding that the assessee was entitled to the relief under section 80J from the total income of the assessee. We, therefore, answer the question referred to us in both the references in the affirmative, i.e., in favour of the assessee and against the Revenue. - - - - - Dated:- 12-2-2002 - Judge(s) : R. K. ABICHANDANI., K. A. PUJ. JUDGMENT The judgment of the court was delivered by K.A. Puj J.-The Income-tax Appellate Tribunal, in I.T.R. No. 28 of 1987 for the assessment years 1980-81 and 1981-82, has referred the following question of law for the opinion of this court: "Whether, on the facts and in the circumstances of the case, and in law, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore the Commissioner of Income-tax (Appeals), Surat, who, while disposing of the said appeal, granted the relief in favour of the assessee only in respect of profits from the new units. Being aggrieved by this order, both the Revenue as well as the assessee preferred separate appeals before the Income-tax Appellate Tribunal. While disposing of the said appeals, the Tribunal rejected the appeal filed by the Department by holding that the Revenue had not disputed the issue regarding cost of the new units and the profits thereof were separately shown by the assessee in the books of account. As far as the assessee's appeal is concerned, the assessee has relied on the Bombay Tribunal's decision in the case of Indo-French Time Industries Ltd., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e business of a hotel, to which this section applies, there shall, in accordance with and subject to the provisions of this section, be allowed in computing the total income of the assessee, a deduction from such profits and gains (reduced by the deduction, if any, admissible to the assessee under section 80HH or section 80HHA) of so much of the amount thereof as does not exceed the amount calculated at the rate of six per cent. per annum on the capital employed in the industrial undertaking or ship or business of the hotel, as the case may be, computed in the manner specified in sub-section (1A) in respect of the previous year relevant to the assessment year (the amount calculated as aforesaid being hereafter, in this section, referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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