The appeal by the assessee to the Appellate Assistant Com missioner was dismissed.
From the Judgment and Order dated 11/12.9.1973 of the Gujarat High Court in I.T. Reference No.
P. Bhatnagar and Ms. A. Subhashini for the Appellant.
1 of 1975.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
He reopened the assessment under section 147 b of the Act and by his reassessment order dated 29.11.1966 recomputed the rebate at Rs.2,51,222.
The Judgment of the Court was delivered by RANGANATH MISRA, J. This appeal by certificate has been carried by the Revenue challenging the decision rendered by the Gujarat High Court reported in 104 ITR 5 10 on a refer ence under the Income Tax Act, 1961.
The Appellate Tribunal on further appeal by the assessee came to hold There is companysiderable force in the arguments urged by Sri Talati.
Assessee is a Public Limited Company and the relevant assessment year is 1964 65.
19 of 1971.
On 19.3.1965, the Income Tax Officer companyputed the assessment under section 143 3 of the Act after determining the rebate admissible under sections 84 and 101 of the Act at Rs.2,72.372.
This was the second year of the assessees new project at Vidyanagar going into production.
