26357/ .
appeal by certificate from the judgment and order dated august 13 1964 of the calcutta high companyrt at calcutta in income tax reference number 148 of 1966.
aggrieved by that decision the companymissioner of income tax for west bengal has brought this appeal.
27144/ in the assessment year 1957 58.
the question referred to the high companyrt for its its opinion reads whether on the facts and in the circumstances of the case the tribunal was right in holding that the assessee having number been assessed to super tax for the assessment year 1958 59 the unabsorbed reduction in rebate under clause i a of the second proviso to paragraph d of part ii of the first schedule to the finance act 1957 companyld number be set off against the rebate available to the assessee under the finance act 1959 and that accordingly the income tax officer was number justified in reducing the rebate of rs.
73920/ was determined and numbercorporation tax was levied for that year.
55257/ .
16114/ was allowed under the provisions of the finance act 1959.
thereafter that rebate was withdrawn by the income tax officer on the ground that there was an unabsorbed reduction of rebate amounting to rs.
on that a rebate of rs.
the assessee is a tea company.
the assessment year with which we are concerned in this case is 1959 60 the relevant accounting year being the calendar year 1958.
civil appellate jurisdiction civil appeal number 496 of 970.
in appeal the appellate assistant companymissioner companyfined the decision of the income tax officer but an a further appeal being taken to the tribunal the tribunal accepted the contention of the assessee and thereafter at the instance of the companymissioner the question formulated above was referred to the high companyrt.
for the assessment year 1959 60 it was assessed to a total income of rs.
carried forward and set off against the rebate for the assessment year 1958 59 under the provision of the finance act 1958 and as there was numberrebate available for the assessment year 1958 59 the unabsorbed reduction in rebate exhausted itself and companyld number be further set off against the rebate available for the assessment year 1959 60.
sen lellu seth o. p. khaitan and b. p. maheshwari for the respondent.
the facts material for the purpose of deciding this question as companyld be gathered from the case stated by the tribunal may number be set out.
it was companytended before the income tax officer that the un absorbed reduction in rebate for the year 1957 58 companyld only be 1 80 i.t.r.
while making assessment for the assessment year 1959 60 the income tax officer reduced the rebate to nil by taking into consideration the unabsorbed reduction of rebate in the assessment year 1957 58.
the judgment of the companyrt was delivered by hegde j. this.
following its earlier decision in companymissioner of income tax west bengal i v. deoria sugar mills limited 1 the high court answered that question in favour of the assessee.
this contention was rejected by the income tax officer.
the companyporation tax payable by the assessee on that amount was companyputed at rs.
a. ramachandran s. p. nayar and r. n. sachthey for the appellant.
16114/available to the assessee for the assessment year 1959 60 ?
