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1972 (7) TMI 28 - HC - Income TaxWhether the assessee's claim in each assessment year for allowance of a sum by way of development rebate in respect of the machinery and plant, etc., installed in one of the industrial units run by it was rightly disallowed - Whether in the facts and circumstances of the case the Income-tax Appellate Tribunal had the power and jurisdiction to direct the Appellate Assistant Commissioner to entertain and take into consideration the assessee's contention that the profits on sale of certain machinery were not taxable since the business was not in existence at any time during the relevant previous years
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