TMI Blog1988 (3) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... come-tax Act, 1961 (for short "the Act"), relates to the assessment year 1980-81. It is made at the instance of the Commissioner of Income-tax by the Income tax Appellate Tribunal. The question referred for the consideration of this court is : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in holding that the provision of Rs. 50,000 ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s' State Insurance Department was filed in the Employees' Insurance Court and by its judgment dated January 28, 1978, the assessee's claim was accepted by the Employees' Insurance Court. Even so, the Employees' State Insurance Department filed an appeal in the High Court against the judgment and order dated January 28, 1978, of the Employees' Insurance Court so that the dispute regarding the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is sought by the Commissioner of Incometax. There is no dispute before us that the assessee maintained accounts on the mercantile system. It is also not in dispute that if the assessee was liable under the Employees' State Insurance Act, the provision of Rs. 50,000 made by the assessee would be adequate. The short question canvassed before us by learned standing counsel for the Revenue is that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lows from the decision in the case of J. K. Synthetics Ltd. v. O. S. Bajpai, ITO [1976] 105 ITR 864 (All) and also from the decision of the Supreme Court in CIT v. Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524. We are also fortified in this view by the decision of this court in CWT v. Amatul Kareem [1981] 127 ITR 549 (AP). So long as it is not denied that the provision of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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