TMI Blog1978 (3) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... erence for the assessment years 1960-61 and 1961-62 made by the Income-tax Appellate Tribunal at the instance of the assessee. The following question of law has been referred for our answer : " Whether, on the facts and in the circumstances of the case, and keeping in view the proviso to section 10(2)(vib) of the Indian Income-tax Act, 1922, the Tribunal was justified in rejecting the claim of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r to the question must be in the affirmative. It is a general principle of the income-tax law that income-tax is charged according to the relevant Finance Act. The Finance Acts of 1960 and 1961 define the total income to mean total income as determined for the purpose of income-tax or super-tax, as the case may be, in accordance with the provisions of the Income-tax Act. By " the Income-tax Act " ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad transport vehicles during the assessment years 1960-61 and 1961-62. The argument of the learned counsel for the assessee is that development rebate should be allowed in respect of all vehicles which were purchased before 1st April, 1960, irrespective of the assessment year in which the rebate is claimed. We do not agree with this contention as it goes against the clear intention of Parliament ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the assessment years commencing from 1st April, 1960. The proviso applies uniformly to all assessees for the assessment years commencing from 1st April, 1960. Parliament has thus not discriminated between the assessees. Even assuming that on this construction some assessees will get the benefit of rebate and others will not in respect of vehicles purchased on the same date because of differen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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