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TMI Blog1990 (2) TMI 318X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee JUDGMENT Bhagabati Prasad Banerjee, J.-The Tribunal has referred the following questions of law under s. 256(1) of the IT Act, 1961 to this Court : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the provisions for gratuity relating to earlier year written back to the profit and loss account was not assessable as profit under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loyees in the earlier year and, therefore, directing the ITO to verify the claim of the assessees in the matter of privilege leave in the light of the Leave Rules ? (4) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the loss arising out of exchange fluctuation arising out of the payment of instalments of loan obtained for the purchase of mac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n relating to taxability of the gratuity provisions the same should be decided in favour of the Revenue. Accordingly question No. 1 is answered in the affirmative (sic) and in favour of the Revenue. Let the said letter dt. 31st March, 1987 with annexures handed over to Court be kept on record treating the same as a part of the record. 4. So far as question No. 2 is concerned the same is now con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... point is now concluded by the decision in the assessee's own case in the earlier years reported in (1986) 157 ITR 158 (Cal) (supra) and in view of the said decision the question referred is answered in the negative and in favour of the Revenue. 7. So far as question No. 5 is concerned this question is now concluded by a decision of this Court in the case of CIT vs. Upper Ganges Sugar Mills Lt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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