COMMISSIONER OF INCOME TAX Vs. FLEX INDUSTRIES LTD

JUDGEMENT

(1.) THIS appeal under S. 260A of the IT Act, 1961 (for short the Act), is directed against the consolidated order, dt. 8th May, 2002, passed by the Tribunal, Delhi Bench-E, New Delhi in ITA Nos. 705, 706/Del/1995, pertaining to the asst. yrs. 1990-91 and 1991-92. By the impugned order, the Tribunal has held that deduction under S. 32A of the Act should not be considered while allowing deduction under S. 80-I of the Act.

(2.) DESPITE service, no one appears for the respondent-assessee.

(3.) IN view of the said authoritative pronouncement, the aforenoted view taken by the Tribunal cannot be sustained. Accordingly, the appeal is allowed; the order of the Tribunal is set aside and that of the AO affirmed by the CIT(A), is restored. The appeal stands disposed of with no order as to costs.