TMI Blog2009 (2) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... n be found with the impugned order of the Tribunal holding that the assessee is entitled to claim deduction under Section 80-I or 80-IA of the Act. Assessee entitled to relief. - 76 of 1999 - - - Dated:- 3-2-2009 - D. A. MEHTA and S. R. BRAHMBHATT JJ. Bhatt and Mrs. Mauna M. Bhatt for the Commissioner. JUDGMENT The judgment of the court was delivered by D. A. MEHTA J. - The Income-tax Appellate Tribunal, Ahmedabad Bench 'A' has referred only the following question at the instance of applicant-Revenue, under Section 256(1) of the Income-tax Act, 1961 (the Act), though the applicant-revenue had suggested as many as eight questions: "Whether on the facts and in the circumstances of the case and proper interpretation of prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny restriction for allowance of deduction under Chapter VI-A of the Act. The above legislative intention is further supported from the specific column in Part-III on Page 3 in Form No.2B, which is the prescribed form for filing the return of undisclosed income. It contains the headwise income upto gross total income and thereafter, there is a column for deduction under Chapter VI. The distinction in Form No.2 and Form No.2B is only with regard to column for set off of brought forward losses and unabsorbed depreciation. Section 158BH clearly provides that all other provisions of the Act would be applicable to block assessment. Thus, there is specific exclusion of 'not set off of brought forward losses and depreciation under section 32(2)' bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een all along assessed as business income and in all the asstt. years falling within the block periods, there has been no other head of income except 'Business Income'. (ii) During the course of search from the records seized, there is no evidence that the assessee companies were having income assessable under any other head namely, House Property, Capital Gains or Income from other source except business income. (iii) The Chairman of the Companies Shri N.R. Agrawal in the various statements recorded under section 132(4) has specified the manner of earning undisclosed income out of the trading activities of the assessee companies relating to the manufactured goods namely, Board paper and Craft paper by under-invoicing of sales and over-invo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the appellant proceedings. 5. In so far as the first contention is concerned, the same was not raised before the Tribunal and hence, it is not necessary to issue any directions at this stage to the Tribunal, leaving it open to the applicant-revenue to raise the said issue at the time when the Tribunal adjusts its decision in accordance with the judgment of this Court. Similarly, in relation to the filing of audit report, the Tribunal has already dealt with the said aspect of the matter. However, it will be open to revenue to seek procedural compliance to provisions of Section 80-I(7) of the Act by moving Tribunal in this regard when the Tribunal adjusts its decision in accordance with the judgment of this Court. 6. Hence, in light ..... X X X X Extracts X X X X X X X X Extracts X X X X
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