- (1.) The Court : The appeal is directed against a judgment and order dated 7th November, 2008 passed by the Income Tax Appellate Tribunal in ITA No.1306 (Kol) of 2008 pertaining to the assessment year 2004 -05 by which an appeal preferred by the revenue was dismissed.
(2.) The aggrieved revenue has come up in appeal.
(3.) The facts and circumstances of the case, briefly stated, are as follows: The assessee, a manufactureer of exercise books having its factory at village Dantia in the district of Purulia, filed a return disclosing a turnover of Rs.5.15 crores and profit of Rs.72 lakhs. It claimed 100% deduction under Section under Section 80 IB. The Assessing Officer was of the opinion that the assessee had carried out the business of trading 2 in paper and not manufacturing of exercise books. It is on this basis that he was of the opinio that the benefit under Section 80 IB was not admissible. ;