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1993 (6) TMI 248 - Bombay High Court

1993 (6) TMI 248 - Bombay High Court - TMI - IT APPLICATION NO. 9 OF 1993 - Dated:- 25-6-1993 - Smt. Sujata Manohar, And N.D. Vyas, JJ. For the Applicant : P.S. Jetly For the Respondent : P.J. Pardiwalla JUDGMENT Manohar, J. - This is an application by the department for a direction that the Tribunal should state the case and raise and refer the following question to this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in upholding the order .....

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pect of this loan. However, while making the assessment of the assessee for the assessment year 1976-77, the ITO disallowed a sum of ₹ 6,41,618 out of interest claimed as deduction by the assessee with the result that the assessee-company was required to pay tax on the said sum of ₹ 6,41,618. This resulted in an additional tax liability of ₹ 4,02,418. 3. Western Ministil Ltd. agreed to reimburse the assessee in respect of this tax liability in the accounting year relevant to th .....

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