1981 (10) TMI 73

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e IT Act in respect of this Bench's order dt. 12th March, 1981 in ITA No. 123/ASR/79 (asst. yr. 1975-76): "Whether on the facts and in the circumstances of the case, the amounts of Rs.1,01,547 and Rs. 4,000 are deductible from the assessee's business income computed for the asst. yr. 1975-76 either under s. 37 or under s. 28(1) of the IT Act, 1961?" In as much as, in our opinion, no referable .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ally set at rest by the following noted decisions of the Hon'ble Supreme Court and in such view of the matter granting the Commr.'s reference request is considered unnecessary litigation: Mahalakshmi Sugar Mills Co. vs. CIT (1980) 16 CTR (SC) 198 :(1980) 123 ITR 429 (SC), CIT vs. Piare Singh (1980) 17 CTR (SC) 111 : (1980) 124 ITR 40 (SC). In view of the above Supreme Court Judgments, we decline t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X