TMI Blog1989 (2) TMI 405X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 256(1) of the Income-tax Act, 1961 ('the Act'): 1.Whether, on the facts and in the circumstances of the case and on a proper interpretation of the provision of the Mines Minerals (Regulation Development) Act, 1957 and the Mining Leases (Modification of Terms) Rules, 1956, the legal expenses of ₹ 45,764, ₹ 7,071, ₹ 7,500, ₹ 76,956 and ₹ 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. So far as question No. 3 is concerned, this is concluded by the decision of this Court in the assessee's own case in IT Reference No. 140 of 1977 by a judgment delivered on 18-8-1981. Therefore, question No. 3 does not create any difficulty and it is answered in the affirmative and in favour of the assessee. The question No. 1 also does not pose any difficulty in which legal expenses t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asset of the assessee. 3. In our view the Tribunal has not committed any error of law. Therefore, the first question must be answered in the affirmative and in favour of the assessee. 4. So far as the second question is concerned, the Tribunal has found that in the assessment year 1965-66 for which the corresponding accounting year ended on 31-10-1964, the assessee had executed an undertakin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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