- (1.) Heard Mr. Shambhu Chopra, Standing Counsel for the Income Tax Department, the appellant herein, and Mr. S.D. Singh for the respondent.
(2.) These appeals seek to challenge the order of the Income Tax Appellate Tribunal wherein the Tribunal has upheld the decision of the Commissioner of Income Tax (Appeals), allowing a reduction in the income of the respondent assessee to the tune of Rs. 3,26,950/-.
(3.) Mr. Singh, learned Counsel appearing for the respondent, points out that the tax effect which is reduced on account of this relief, will obviously be less than Rs. 2,00,000/-.;