1988 (11) TMI 41

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..... e matter here pertains to the assessment years 1972-73 and 1973-74. The questions of law referred for the opinion of this court are as under : "(1) Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that the remuneration paid to Shri Jagmohan Mehra and Shri Manmohan Mehra was unreasonable within the meaning of section 40C of the Income-tax Act, 1961, is based .....

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..... assessment year 1970-71 had earlier been referred to this court, which were answered by this court in Amritsar Transport Company Private Limited v. CIT [1986] 161 ITR 18. This decision clearly covers the present case too and, consequently, the questions referred are answered in the same manner, that is, in the affirmative, in favour of the Revenue and against the assessee.
Case laws, Decision .....

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