1983 (8) TMI 24

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..... law referred to in this case is as follows : " Whether, on the facts and in the circumstances of the case, the development rebate of Rs. 2,000 allowed in the original assessment can be legally withdrawn by the Income-tax Officer by invoking the provisions of section 154 of the Income-tax Act, 1961 ? " The reference relates to the assessment year 1967-68. In the assessment, the assessee was allo .....

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..... sources. The supplementary statement, which has now been received, does not indicate that there was any material on the record of the assessment case for the year 1967-68 to show that the machinery was let out by the assessee and was not used for his business. It appears that in the return filed for the year 1968-69, the assessee showed that the machinery was let out for business. It was then that .....

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