2005 (1) TMI 95

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..... 1) of the Income-tax Act, 1961, hereinafter referred to as "the Act", for opinion to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was legally right in deleting the addition of Rs. 3,29,328 made on account of cash assistance under section 28(iv) disregarding the provisions of section 2(24)(va) along with section 10(3)(ii) of the Income-tax Act, 1961, and Bo .....

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..... r, relying upon the decision of the Calcutta High Court in the case of Jeewanlal (1929) Ltd. v. CIT [1983] 142 ITR 448 (Cal) ; [1983] 10 Taxman 180 (Cal) and the decision of this court in the case of Agra Chain Manufacturing Co. v. CIT [1978] 114 ITR 840 did not accept the contention of the respondent-assessee and taxed the amount of cash incentive, which was upheld by the Commissioner of Income-t .....

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