COMMISSIONER OF INCOME TAX Vs. PANNA KNITTING INDUSTRIES

JUDGEMENT

(1.) THE Tribunal, in IT Ref. No. 28 of 1987, for the asst. yrs. 1980 81 and 1981 82, has referred the following question of law for the opinion of this Court :

(2.) SIMILARLY , in IT Ref. No. 164 of 1988 for the asst. year 1982 83, the following question of law was raised by the Tribunal for the opinion of this Court : "Whether, on the facts and in the circumstances of the case and in law, the Tribunal was right in coming to the conclusion that the relief under S. 80J of the IT Act should be allowed from the total income (which is not confined to the income) of the new units ?"

(3.) BEING aggrieved by the order of the ITO, the assessee had preferred an appeal before the CIT (A), 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.