2001 (1) TMI 61

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..... tax Act, 1961: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessee's claim under section 80J for the assessment year 1972-73 should be determined in the assessment year 1975-76 and allowed in that year?" Since there are lots of factual angles involved, we need not go into the factual aspects in detail. However, what seems t .....

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..... d wherein the deficiency for 1972-73 was not mentioned. It is too late now for the Revenue to contend that the direction given by the Commissioner of Income-tax (Appeals) in his earlier order dated January 20, 1979, is erroneous." In view of the findings recorded by the Tribunal its conclusion cannot be faulted. Therefore, the question has to be answered in the affirmative, in favour of the asse .....

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