- (1.) LEAVE granted.
(2.) THE short question which arises for determination in these civil appeals is : whether the appellant assessee was liable to pay additional tax on account of adjustment on its return for the asst. yrs. 1996 -97 and 1997 -98 under s. 143(1)(a)
(3.) DURING the relevant assessment years, appellant claimed deduction under s. 80 -O of the IT Act, 1961 (for short "1961 Act") in respect of qualifying income brought into India in convertible foreign exchange. In its return, appellant indicated the qualifying income as gross figure. By way of adjustment, under s. 143(1)(a) of the 1961 Act, the ITO restricted the qualifying income to the net figure. In other words, assessee claimed gross income, earned in foreign exchange, as qualifying income whereas the ITO granted deduction by restricting the claim of the assessee to the net income. was the question of interpretation. There were several conflicting decisions on this point. Therefore, according to appellant, s. 143(1)(a) was not applicable and consequently the appellant is not liable to pay additional tax under s. 143 (1A). At this stage, it may be noted that subsequently regular assessment was carried out by the ITO under s. 143(3). We are not concerned in this case with regular assessment under s. 143(3).;