LAWS(BOM)-2005-7-162

COMMISSIONER OF INCOME TAX Vs. RATILAL BACHARILAL

Decided On July 22, 2005
COMMISSIONER OF INCOME TAX Appellant
V/S
Ratilal Bacharilal Respondents

JUDGEMENT

(1.) By this reference u/s. 256(1) of the IT Act, 1961, the Tribunal has referred the following questions of law for the opinion of this Court :

(2.) The factual matrix reveals that the assessee is a registered firm. The assessment for 1980-81 was made by the ITO by assessment order dt. 23rd Feb., 1981. In the said assessment order, the ITO allowed weighted deduction under Section 35B on Rs. 5,63,350 instead of Rs. 8,90,676 claimed by the assessee.

(3.) Appeal was preferred against the said assessment order which was decided by the CIT(A) by order dt. 25th Nov., 1981 upholding the order of the ITO.