IN  THE  HIGH  COURT  OF  DELHI  AT  NEW  DELHI


                    ITA 74/2002


          M/S GOLD TAX FURNISHING INDUST.     ..... Appellant.
                                   Through  Mr.C.S.Aggarwal.
                                            with Mr.Anil Sharma.
                                            Advocates.
                              versus

          CIT                                 ..... Respondent
                                   Through  Mr.R.D.Jolly with
                                            Ms.Rashmi Chopra.
                                            Advocates.

          CORAM:
          HON'BLE MR. JUSTICE D.K. JAIN
          HON'BLE MS. JUSTICE SHARDA AGGARWAL


                              O R D E R
                             -----------
                            21.08.2002

                 Admit.
                 The  following substantial questions of law  are
          framed for adjudication:
          "1.    Whether  the Income declared by  the
                 assessee   of   Rs.65,50,000   could
                 validly  be assessed as "income from
                 other  sources"  instead of  "income
                 from  business"  as declared by  the
                 assessee?

          2.     Whether  the  Income  Tax  Appellate
                 Tribunal  was  correct  in  law   in
                 upholding  the  disallowance of  the
                 claim  of deduction u/s 80IA of  the
                 I.T.Act  in respect of the income of
                 Rs.65,50,000  declared u/s 132(4) of
                 the I.T.Act at the time of search on
                 18.2.1993?"

                 Insofar as, proposed question No.1 is concerned,
          in  view  of  our order passed today  in  ITA  80/2002,
          dismissing  Revenue's  appeal against the  deletion  of
          interest charged under Section 234B and 234C of the Act
          answer to the proposed question is of academic interest
          only  and,  therefore, the proposed question cannot  be
          said to be a substantial question of law.
                 The appellant shall file within three months ten
          copies  of the cyclostyled paper books, containing  all
          documents  on  which  reliance was  placed  before  the
          Tribunal,  including  any order/orders, either  in  the
          case  of  the assessee itself or in case of  any  other
          assessee, which has been followed by the Tribunal.
                 The  appeal be listed for hearing in the regular
          course.

                                         D.K. JAIN, J




                                         SHARDA AGGARWAL, J
          AUGUST 21, 2002
          'ss'