1993 (3) TMI 14

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..... der section 256(1) of the Income-tax Act, 1961 : At the instance of the Revenue: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the sum of Rs. 22,78,948 representing the provision made for extra payment of sugarcane price was allowable deduction for the year under reference ? Whether, on the facts and in the circumstances of the case, .....

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..... Central Board of Direct Taxes. The issue involved in the questions referred to us at the instance of the Revenue is covered in favour of the assessee by the circular issued by the Central Board of Direct Taxes which was brought to our notice while disposing of Income-tax Reference No. 438 of 1979. As per the said circular, the assessee would be entitled to the deduction of the two amounts invol .....

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