JUDGMENT
T.D. Sugla, J.
1. The questions referred to this court by the Tribunal under section 256(1) of the Income-tax Act, 1961, as questions of law read thus :
“(1) Whether, on the facts and in the circumstances of the case, the claim of the assessee to allow a sum of Rs. 1,442, as development rebate allowance under section 33 of the Income-tax Act, 1961, has been rightly rejected for the assessment year 1964-65 ?
(2) Whether, on the facts and in the circumstances of the case, the claim of the assessee to allow a sum of Rs. 582 as development rebate allowance under section 33 of the Income-tax Act, 1961, has been rightly rejected for the assessment year 1966-67 ?”
2. The assessment years involved are assessment years 1964-65 and 1966-67. Counsel are agreed that, in view of the amendment of section 34(3)(a) by the Finance Act, 1990, with retrospective effect from April 1, 1962, the legal position is clearly in favour of the assessee and against the Revenue. Accordingly, the Tribunal’s order cannot be sustained.
3. The questions are, accordingly, answered in the negative and in favour of the assessee. No order as to costs.