9911796707
TMI Blog1988 (5) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Act, 1961, at the instance of the Revenue is to answer the following questions of law, namely: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the expenditure of Rs. 10,117, Rs. 5,000, Rs. 2,000 and Rs. 7,000 incurred by the assessee was not in the nature of entertainment and was, therefore, not hit by section 37(2B) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er repelled both the contentions. He held that section 80G was not attracted since the assessee had declared a loss for that year. The Appellate, Assistant Commissioner affirmed the view of the Income-tax Officer. However, the Tribunal held in favour of the assessee on both these points. Hence, this reference at the instance of the Revenue. The point involved for decision in the above quoted firs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ross total income of the assessee includes any income by way of dividends". The Supreme Court has held in Distributors (Baroda) P. Ltd. v. Union of India [1985] 155 ITR 120 (SC) that these opening words in section 80M describe the condition which must be fulfilled in order to attract the applicability of the provisions contained in section 80M. The condition is that the gross total income of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Supreme Court while construing the condition to be fulfilled for attracting section 80M in the above decision must equally apply for construing the condition on fulfilment of which section 80G is attracted. In this view of the matter, we are of the opinion that no case was made out for applying section 80G and giving to the assessee benefit of the deduction available thereunder when the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
