LAWS(BOM)-2001-11-44

COMMISSIONER OF INCOME TAX Vs. CAMCO COLOUR CO

Decided On November 26, 2001
COMMISSIONER OF INCOME TAX Appellant
V/S
CAMCO COLOUR CO. Respondents

JUDGEMENT

(1.) THIS appeal is filed under S. 260A of the IT Act, 1961 ("Act" for short), raising a question with respect to the claim for deduction under ss. 80HH and 80 -I of the Act which was allowed by the Income -tax Appellate Tribunal ("Tribunal" for short) vide its judgment dt. 28th Dec., 1999, for the asst. year 1990 -91.

(2.) AT the outset. Shri Jasani, learned counsel for the respondent, contended that considering the tax effect, this is not a fit case wherein the Court should entertain appeal for consideration. Mr. Jasani, learned counsel for the respondent relied upon the judgment of this Court in the case of CWT vs. Executors of Late D.T. Udeshi (1992) 101 CTR (Bom) 290 : (1991) 189 ITR 319 (Bom) : TC 67R.840 wherein the appeal was disposed of on this count alone. He pointed out that the tax effect, if at all the Revenue succeeds, is going to be in the sum of Rs. 46,410 for the asst. yr. 1990 -91. He took us through the Instruction No. 1979 issued by the Central Board of Direct Taxes ("CBDT" for short) vide Circular F. No. 279/126/98 -ITJ dt. 27th March, 2000, which reads as under :

(3.) SPECIAL Leave Petitions under Art. 136 of the Constitution are filed before the Supreme Court