1987 (8) TMI 45 - HC - Income Tax

Summary

The High Court of Madhya Pradesh directed the Tribunal to refer the question of whether the expenditure of Rs. 22,650 on plantations in the factory premises and residential quarters of a company is allowable as a deduction under section 37(1) of the Income-tax Act, 1961. The Tribunal cannot be directed to refer the second question raised by the assessee.