TMI Blog2011 (9) TMI 1232X X X X Extracts X X X X X X X X Extracts X X X X ..... llowance on such enhanced cost ? (b) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the expenses on tea, coffee, snacks, etc. provided to the customers, suppliers and expenses on company s guest and expenditure on auditors did not constitute entertainment expenses within the meaning of Sec. 37(2) of the I.T. Act, 1961 read with clause (iii) of the explanation therein ? (c) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing expenditure of Rs. 14,31,555/- being expenditure incurred on account of fabric show, meeting and sales conference and opening ceremony of retail show room as business expenditure ? (d) Wheth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crued but not due on securities should not be taxed as income for the year despite the fact that the assessee is following mercantile system of accounting and that it has accounted for such interest in the books ? (j) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing proportionate premium payable on the redemption of bonds during the year, as expenditure ? (k) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing depreciation on intake well, telpher plant and shortage tank at the rate applicable to plant and false ceiling ? (l) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the decision in the assessee s own case for AY 1990-91. The appeal filed by the revenue against the order of the ITAT for AY 1990-91 has been dismissed by this Court on the ground of delay. Thus, the order of the ITAT for AY 1990-91 has attained finality. In these circumstances, questions (h) (l) cannot be entertained. 5. As regards question (i) is concerned, counsel for the revenue states that he is not pressing the said question as the ITAT has followed the decision of the Madras High Court in CIT v/s. Mercantile Bank reported in 291 ITR 137 (Mad). 6. As regards question (m) is concerned, counsel for the revenue states that the said question stands answered against the revenue by the decision of this Court in the case of CIT V/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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