COMMISSIONER OF INCOME-TAX Vs. HINDUSTAN AERONAUTICS LTD

JUDGEMENT

(1.) This appeal is by the appellant who was the respondent and is directed against the order dated March 6, 1981, of Chandrakantaraj Urs. J. allowing W.P. No. 4803 of 1979 (Hindustan Aeronautics Ltd. v. CIT) filed by the respondent/petitioner since reported in [1981] 132 ITR 461.

(2.) M/s. Hindustan Aeronautics Ltd., Bangalore, a wholly owned Central Government company, engaged in the manufacture of aeroplanes and its parts, who is the respondent before us and was the petitioner before the learned judge, is an assessee on the file of the Income-tax Officer, Company Circle, Bangalore. For the assessment year 1970-71, relevant to the accounting year ending March 31, 1970, the assessee filed its return before the Income-tax Officer who on March 15, 1973, completed the assessment disallowing certain allowances claimed by it on certain grounds that are not necessary to notice. Against the assessment order of the Income-tax Officer, the assessee filed an appeal before the Appellate Assistant Commissioner who by his order dated October 27, 1976, partly allowed the same.

(3.) Aggrieved by the said orders of the Appellate Assistant Commissioner and the Income-tax Officer, the assessee and the Revenue filed second appeals before the Income-tax Appellate Tribunal, Bangalore, to the extent they were aggrieved by them. On May 9, 1977, the assessee withdrew its appeal before the Tribunal with liberty reserved to approach the Commissioner of Income-tax in a revision under section 264 of the Income-tax Act, 1961 (the Act). On May 28, 1978, the Tribunal, however, dismissed the appeal filed by the Revenue on merits.