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The Commissioner of Income Tax, Bathinda v. M/s Minocha Cotton Company, Bathinda. - ITR-129-1992  RD-P&H 9070 (23 October 2006)
I.T.R. No.129 of 1992
Date of decision: 01.11.2006
The Commissioner of Income Tax, Bathinda.
M/s Minocha Cotton Company, Bathinda.
CORAM:- HON'BLE MR JUSTICE ADARSH KUMAR GOEL
HON'BLE MR JUSTICE RAJESH BINDAL
Present: Dr. N.L. Sharda, Advocate for the revenue.
Following question of law has been referred for opinion of this Court by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar, arising out of its order dated 03.10.1991 in I.T.A. No.164(ASR)/1987 in respect of assessment year 1984-85:-
"Whether on the facts and in the circumstances of the case, the Tribunal is right in law in applying the amended provisions of section 43B of the Income-tax Act, 1961 to the proceedings relating to the assessment year 1984-85 when the amendment was effected from 1.4.1988?"
We find that the issue is covered against the revenue and in favour of the assessee by the judgment of Hon'ble Supreme Court in Allied Motors (P) Limited v. Commissioner of Income Tax 1997 (224) ITR 677.
Following the above judgment of the Hon'ble Supreme Court, we have decided the issue against the revenue and in favour of the assessee vide our order dated 5.9.2006 in ITR No.94 of 1996, The Commissioner of Income tax (C), Ludhiana v. M/s Avery Cycle Inds. Pvt. Limited, Ludhiana..
Accordingly, the question is answered against the revenue and in favour of the assessee.
( ADARSH KUMAR GOEL )
November 01, 2006 ( RAJESH BINDAL )
I.T.R. No.48 of 1993 Pag
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