TMI Blog2001 (8) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... . Pursuant to the direction given by this court under section 256(2) of the Income-tax Act, 1961 (in short "the Act"), the following questions have been referred for the opinion of this court: "1. Whether, on the facts and circumstances of the case and on a true construction of the agreement dated April 30, 1962, the Tribunal was right in law in disallowing the claim of the assessee for the expe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d various expenditure on behalf of one Maharaja Restaurant from the date of inception of that restaurant which were claimed as business loss. The Assessing Officer found that there was no business relation with Maharaja Restaurant and, therefore, the claim of expenditure was held to be untenable. The assessee carried the matter in appeal before Appellate Assistant Commissioner (in short, 'the AAC" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... advice on hotel management it provided) that the German company should pay out fees or share the profits from the Maharaja Restaurant and in that case the income or loss from Maharaja Restaurant that came to the assessee would have been dealt with under the head 'Business'. We do not find these submissions valid. Firstly, if it is the assessee's case that its business is to run restaurants in Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to be referred. Pursuant to the direction, the Tribunal has referred the questions along with the statement of the case. According to learned counsel for the Revenue, the Tribunal has categorically held that there was no business link and that any hypothetical issue cannot be pressed. There is no scope for entertaining the present application. There is no appearance on behalf of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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