1986 (2) TMI 3

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..... pur, hereinafter referred to as the Tribunal, the following question has been referred for the opinion of this court : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the sum of Rs. 2,04,006 was an admissible deduction in the computation of the assessee's total income for the assessment year 1968-69 ?" This reference relates to the assess .....

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..... hat the said Government would have the right to appropriate the security money deposited by the licence-holder against the aforesaid deficiency and further that the said Government may proceed against the movable and immovable properties of the licence-holder and their legal heirs if necessary to recover the shortage. During the aforesaid period of the licence, the assessee took delivery of countr .....

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..... court. We find that this question is wholly covered by the decision of this court in CIT v. Chunnilal Tak (D. B. Income-tax Reference No. 6 of 1978) decided on May 24, 1985 [1986] 160 ITR 617 (Raj). In that case, the following question has been referred for the opinion of this court (at p. 618) : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding tha .....

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