TMI Blog1996 (1) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... spect of the three items in dispute so as to exclude the jurisdiction of the Commissioner of Income-tax under section 263 - question referred is, therefore, answered in the negative, in favour of the Revenue - - - - - Dated:- 23-1-1996 - J. S. VERMA., MS. SUJATHA V. MANOHAR. and S. P. BHARUCHA. JUDGMENT The Income-tax Appellate Tribunal has referred under section 257 of the Income-tax Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d made certain additions and disallowances while computing the loss and income as above and had also accepted, inter alia, the following three claims : (i) Deduction of a sum of Rs. 23,82,621 by way of provision for gratuity; (i) Depreciation on Rs. 4,21,000 which was paid by the assessee to United Textile Industries as consideration for transfer of installed property of 17,480 spindles and 40 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d merged in that of the Commissioner (Appeals) so as to exclude the jurisdiction of the Commissioner of Income-tax under section 263 of the Act. We may refer to the amendment made in section 263 of the Income-tax Act by the Finance Act, 1989, with retrospective effect from June 1, 1988. The relevant part thereof for the present case is as under : "Explanation .---For the removal of doubts, it ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
