TMI Blog1981 (2) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax in the matter of income-tax assessment for the assessment year 1960-61. The assessee had spent a sum of Rs. 32,431 towards the remodelling of furniture in the various retail depots of the company and claimed it as a deductible expense. The ITO and the AAC were of the opinion that the expenditure was capital in nature but, on further appeal, the Tribunal took a contrary view. It was of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Tribunal had declined to state a case on the ground that there had been no dispute before it that the incurring of the expenditure was not for the purpose of business. In the above circumstances, this court also rejected the application under s. 256(2). In the year under appeal also there is no finding that the expenditure had not been incurred for the purpose of business. In fact, the find ..... X X X X Extracts X X X X X X X X Extracts X X X X
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