JUDGMENT

D.P. Wadhwa, J.-The question of law which falls for consideration is :

whether on the facts and in the circumstances of the case, Tribunal was justified in deleting the addition made by the Assessing Officer under Section 143(1)(a) in view of the clear cut provisions of Section 143(1)(a), 143(1A) and 234?

2. Respondent, the assessee, filed its return of income for the assessment year 1989-90. The return was filed on December 29, 1989. It was filed under Section 139 of the Income Tax Act, 1961 (for short, the Act ).

3. Under Section 28 of the Act, income mentioned therein is chargeable to income tax under the head "profits and gains of business or profession". Clause (iii)(b) in Section 28 was inserted by the Finance Act of 1990. Finance Bill which ultimately became the Finance Act received assent of the President of India on May 31, 1990. Clause (iii)(b) was given retrospective operation w.e.f. April 1, 1967. Clause (iii)(b) is as under :

"(iii)(b)-Cash assistance (by whatever named called) received or receivable by any person against exports under any scheme of the Government of India."

4. Before the insertion of clause (iii)(b), cash assistance received by any person against