( 1 ) THE Commissioner of Income Tax has filed this appeal under Section 260a of the Income Tax Act, 1961 (for short "the Act") against the order passed by the Income Tax Appellate Tribunal (for short "the ITAT") dated 15. 5. 2001.

( 2 ) BRIEF facts which are necessary to dispose of the appeal are recapitulated as under.

( 3 ) IN this appeal the revenue has challenged the order of the ITAT relating to the assessment year 1990-91 on the issue of disallowance of rs. 15,84,216/- made under Section 43b of the Act while processing the return under Section 143 (1) (a) of the Act.

( 4 ) MR. SANJIV Khanna, the learned senior counsel for the appellant submitted that the ITAT without giving any reason decided the appeal in favour of the asseesee.

( 5 ) IT is also submitted by Mr. Khanna that the ITAT has erroneously placed reliance on the decision of the Gauhati High Court reported in India Carbon ltd. vs. Inspecting Asstt. Commissioner of income Tax reported in 200 ITR 759. The case has no direct relevance on the facts of this case.

( 6 ) THE assessee filed its return of income on 31. 12. 1990 declaring net loss of Rs. 8,56,21,193/- for the assessment year 1990-91. The retur