TMI Blog2001 (7) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... his court by the Income-tax Appellate Tribunal, Delhi Bench "E" (in short, "the Tribunal"), under section 256(1) of the Income-tax Act, 1961 (in short, "the Act"): 'Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that the assessee was entitled to development rebate on increase in the cost of asset as a result of devaluation of ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was observed by the Tribunal that the withdrawal was not proper and, therefore, the Commissioner of Income-tax (Appeals) order was not to be interfered with. On being moved for reference, the question as set out above has been referred for the opinion of this court. We have heard learned counsel for the Revenue. There is no appearance on behalf of the assessee in spite of notice. Learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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