(Per : HONOURABLE MS.JUSTICE HARSHA DEVANI)
1) By this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act") the appellant-revenue has challenged the order dated 26.10.1999 passed by the Income Tax Appellate Tribunal in I.T.A. No.1406/Ahd/1991 for Assessment year 1987-88, whereby the appeal preferred by the revenue came to be dismissed.
2) While admitting the appeal, this Court, by an order dated 11.10.2000, had formulated the following substantial question of law;
"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that assessee was entitled for the deduction as claimed by it under section 80-I of the Act?."
3) Mr.
J.P. Shah, learned advocate for the respondent has drawn the attention of the Court to the decision of this Court in the case of Commissioner of Income Tax Vs. Lakhanpal National Ltd., (2008) 304 ITR 365, wherein the Court was dealing with an identical question and had answered the same in the affirmative, that is, in favour of the assessee and against the revenue.
4) Mr.
K.M. Parikh, learned standing counsel for the appellant is not in a position to dispute the aforesaid position of law. Under the circumstances, it is not necessary to set out the facts and contentions in detail.
5) Following the above referred decision of this Court, in the assessee's own case in relation to Assessment years 1982-83 and 1983-84, the question is answered in the affirmative, that is, in favour of the assessee and against the revenue. The appeal is, accordingly, dismissed.
(AKIL KURESHI,J.) (HARSHA DEVANI,J.) Vahid Top