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TMI Blog1987 (1) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... ment order for the assessment year 1967-68 did not become time barred under sub-section (1) of section 153 of the Income-tax Act, 1961, in view of the provisions of the Explanation (1) to the said sub-section ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that the interest income of Rs. 5,11,363 had accrued and arisen in favour of the assessee in the previous year relevant for the assessment year 1967-68 ? 3. Whether, on the facts and in the circumstances of the case, and on a correct interpretation of the terms of the agreement dated October 31, 1955, and the consent decree dated February 25, 1959, the Tribunal is justified in holding that the assessee is not the owner of the cinema ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... os. 1, 2 and 4 are covered by the decision of this court in D. B. Income-tax Reference No. 16 of 1978 and D. B. Income-tax Reference No. 24 of 1978, decided by this court on January 20, 1987 (Golcha Properties (P.) Ltd. v. CIT [1987] 166 ITR 259), between the same parties. D.B. Income-tax Reference No. 16 of 1978 related to the assessment year 1965-66 and D. B. Income-tax Reference No. 24 of 1978 related to the assessment year 1966-67, and these very questions came up for consideration before this court and they were answered against the assessee and in favour of the Revenue. For the same reasons, questions Nos. 1, 2 and 4 must be answered against the assessee and in favour of the Revenue. As regards question No. 3, it has been stated by Ai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as under: " No allowance shall be made in respect of expenditure incurred on the maintenance of any residential accommodation in the nature of guest house unless the assessee maintains a register showing the following particulars. " By the said rule, it has been prescribed that allowance shall be made in respect of expenditure incurred on the maintenance of any residential accommodation in the nature of a guest house only if the assessee maintains a register for the particulars prescribed in the said rule. In other words, rule 6C(3) prescribes the conditions subject to which expenditure referred to in sub-section (3), of section 37 would be permissible as an allowable deduction. In our opinion, the Tribunal was, therefore, right in taking ..... X X X X Extracts X X X X X X X X Extracts X X X X
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