1994 (1) TMI 39

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Tribunal to this court : " (1) Whether the Tribunal was right in holding that the expenditure incurred on Turf Invitation Cup is not allowable ? (2) Whether the Tribunal was right in holding that the subscription received from the members is liable to tax ? (3) Whether the Tribunal was right in holding that the expenditure incurred on the Race Ball Day is in the nature of entertainment exp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... h the business of the assessee. We have no valid reason to disagree with the finding of fact rendered by the Tribunal as above. Regarding the second question, learned counsel fairly admitted that in respect of the very same assessee, the question was answered against the assessee in the judgment of this court in CIT v. Madras Race Club [1976] 105 ITR 433. Regarding the third question which relat .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... fice premises or a residence and section 33(6) of the Act prohibits the grant of development rebate in respect of machinery or plant installed in any office premises or residential accommodation, and, therefore, develop ment rebate will not be admissible. Here again, we do not find any ground to differ from the view taken by the Tribunal concurring with the order of the Assessing Officer and the A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X