1996 (11) TMI 31

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..... al referred the following question, for the opinion of this court, under section 256(1) of the Income-tax Act, 1961, for the assessment years 1975-76 and 1976-77 : " Whether, on the facts and in the case circumstances of the case and having regard to the provisions of section 43A, the Tribunal was right in holding that the sum of Rs. 93,223 and Rs. 1,13,085 for the assessment years 1975-76 and 1 .....

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..... llowing an earlier Special Bench order of the Tribunal of the Bombay Bench, held that the amount claimed by the assessee is capital in nature. In T. C. Nos. 87 and 88 of 1984 in the case of the same assessee in the assessment years 1974-75 and 1977-78, this court by judgment dated October 9, 1995, held that the higher instalments paid due to exchange fluctuation is capital in nature. Accordingly, .....

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