1993 (8) TMI 18

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..... tax Act, 1961 : "Whether in view of the facts and circumstances of the case, the Tribunal was right in law in holding that the relief under section 80HH of the Income-tax Act, 1961, should be considered after considering unabsorbed losses and depreciation ?" The assessee installed Carbaryl plant in a backward area. In the assessment year 1976-77, the assessee claimed deduction of 20 per cent. o .....

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..... me-tax as it agreed with the view taken by the Income-tax Officer and, therefore, restored the order passed by the Income-tax Officer. The assessee, therefore, sought a reference to this court. The contention raised by the assessee that gross total income was required to be worked out without deducting the unabsorbed losses and unabsorbed depreciation cannot be accepted in view of the decision .....

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