TMI Blog1979 (2) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... nal, Cochin Bench, at the instance of the Revenue. The question referred for our opinion is : " Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in holding that the circular issued by the Central Board of Direct Taxes existing at the beginning of the assessment year will be applicable and the assessee would be entitled to 100% amortisatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner held that the amortisation to be allowed should be restricted to 50%. To this extent he was of the opinion that the order of the ITO was prejudicial to the Revenue and required modification. The officer was directed to modify his order accordingly. On appeal by the assessee, the Tribunal allowed the appeal, reversed the order of the Commissioner and restored that of the ITO. It referre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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