TMI Blog1982 (7) TMI 21X X X X Extracts X X X X X X X X Extracts X X X X ..... with s. 147 of the I.T. Act, 1961, and similar notices issued u/s. 8 of the Surtax Act. Consequential relief is also sought. It would appear from the annexure to the affidavit-in-reply of the ITO, Company Circle VI(5), Bombay, that the assessee-company had claimed deduction u/s. 80-1 and extra development rebate u/s. 33 of the I.T. Act, 1961, on the ground that manufacture of polyster fibre was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be set out: "If the assessee had it any time brought to the notice of the ITO that its products are in fact manufactured from the basic raw material, Di Methyl Torythalate, the claim of the assessee would not have been accepted as this raw material is not like calcium carbide, ethyl alcohol or hydrocarbons from other sources. It is also now ascertained that the assessee does not manufacture any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 81] 130 ITR 14, and another judgment in the same volume at page 23, (J. K. Synthetics Ltd. v. CIT). He has also pointed out that for the assessment years 1969-70 and 1970-71 the Income-tax Appellate Tribunal has upheld the claim of the very same assessee (the petitioner company) for relief under s. 80-1 and higher development rebate applying the principles enunciated by the Supreme Court in the Ni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the reference sought for by the Revenue in that case has been rejected by the Tribunal and a further attempt by the Revenue to get a direction from the High Court to the Tribunal to state the case was also unsuccessful. This is not disputed by the learned departmental representative. " It is clear that the assessee had made a claim on the footing which has been accepted by several judicial tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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