1992 (6) TMI 17

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..... unal has referred the following question of law for the decision of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the Income-tax Officer is not justified in cutting down the relief under section 80J of the Income-tax Act, proportionate to the number of days worked in the accounting year ? " The respondent is an assessee .....

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..... fficer was not justified in computing the deduction allowable under section 80J proportionate to the period for which the industrial undertaking had worked. The plea of the assessee was accepted. In the further appeal filed by the Revenue before the Appellate Tribunal, the Appellate Tribunal, following the decision of the Madras High Court in CIT v. Simpson and Co. [1980] 122 ITR 283, held that th .....

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..... mpson and Co.'s case [1980] 122 ITR 283 (Mad) has been accepted by the Central Board of Direct Taxes in Circular No. 378, dated March 3, 1984. In the light of the above, we are of the view that the Appellate Tribunal was justified in holding that the Income-tax Officer was in error in cutting down the relief under section 80J of the Income-tax Act proportionate to the number of days worked in th .....

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