CIT Vs. EIH LIMITED

JUDGEMENT

(1.) This appeal under Sec. 260A of the Income -tax Act, 1961 is at the instance of the revenue and is directed against an order dated 28 -7 -2000, passed by the Income -tax Appellate Tribunal, E Bench, Kolkata, in ITA No. 1760 (Cal) of 1999 for the Assessment Year 1996 -97.

(2.) Although a Division Bench of this Court while admitting the present appeal, formulated nine different questions, Mr. Nizamuddin, the learned Advocate appearing on behalf of the revenue, after taking instruction from his client, has fairly restricted his submission to the following three questions of law:

(3.) Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law by erroneously re -computing deduction under Sec. 80HHD of the I.T. Act, 1961, at Rs. 77,62,17,303 in contravention to provisions laid down in Sec. 80HHD of the I.T. Act, 1961, by not including receivables in its computation although receipt includes receivable as per mercantile system of accounting.