CIT Vs. SATYAWATI DEVI

JUDGEMENT

(1.) THE Income Tax Appellate Tribunal, Delhi, has referred the following question of law under section 256(1) of the Income Tax Act, 1916 (hereinafter referred to as 'the Act') for opinion to this Court: 'Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the Income Tax Officer was not justified in reducing the relief under section 80K of the Income Tax Act, 1961 originally granted to the assessee as a shareholder on the basis of the certificates issued by the Income Tax Officer under section 197(3) of the Act to the Principal Officers of the concerned companies and the consequential certificates issued by the Principal Officers to the shareholders under rule 31(4) of the Income -tax Rules, 1962 on the basis of the assessments made on the companies?'

(2.) HEARD Shri A.N. Mahajan, learned Standing counsel, for the Revenue and no body appears, for the assessee.

(3.) RESPECTFULLY following the aforesaid decision, we answer the question referred to us in affirmative, i.e., in favour of the assessee and against the revenue. There will be no order as to costs.