TMI Blog1997 (5) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... hether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the deduction under section 36(1)(viii) of the Income-tax Act, 1961, be allowed at the prescribed percentage of the total income computed before allowing deduction under Chapter VI-A and also before taking into account the deduction allowable under section 36(1)(viii) itself?" The a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... came up for consideration before the Tribunal in the case of the assessee for the assessment year 1979-80 and vide its order dated September 19, 1984, in ITA No. 726 of 1982, the issue was resolved in favour of the assessee. This was in view of the circular of the Central Board of Direct Taxes giving such benefit to the assessees and also relying on the decision of the Patna High Court in the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Patna High Court in the case of CIT v. Bihar State Financial Corporation [1983] 142 ITR 18, but there are other judgments also of other High Courts. It is seen that excepting the Karnataka High Court, all other High Courts have taken the same view on this question. In CIT v. M. P. Audyogik Vikas Nigam Ltd. (No. 1) [1989] 178 ITR 177, the Madhya Pradesh High Court has held that it would not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g that of the Andhra Pradesh High Court in CIT v. Andhra Pradesh State Financial Corporation [1989] 175 ITR 87. The Calcutta High Court has dissented from the view expressed by the Karnataka High Court in Karnataka State Financial Corporation v. CIT [1988] 174 ITR 206. Ultimately, the Calcutta High Court has taken note of the fact that the view taken by the different High Courts that total income, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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