COMMISSIONER OF INCOME TAX Vs. MAHAVIR RUBBER WORKS

JUDGEMENT

(1.) ON an application filed under Section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following question for the opinion of this court :

(2.) THE assessee derives income from manufacture and sale of plastic and rubber goods. THE relevant assessment year is 1979-80. Year ended on December 31, 1978. THE income of the assessee was assessed at Rs. 20,411. THE benefit of Section 80J of the Income-tax Act, 1961, has been denied to the assessee on the ground that the assessee has not fulfilled the condition for deduction under Section 80J.

(3.) A plain reading of the provisions of Sub-section (4) of Section 80J reveals that relief under Section 80J can be allowed to the assessee in respect of the industrial undertaking, which fulfils the conditions laid down in Sub-section (4). Learned counsel further submits that the assessee has not employed ten employees as required under Clause (iv) and that has not been disputed by the assessee.