1981 (10) TMI 73 - AT - Income Tax

Summary

The CIT (Central), Ludhiana sought reference under s. 256(1) of the IT Act regarding deductibility of specific amounts from business income for asst. yr. 1975-76. The Tribunal declined the request as no referable question of law arose. The Tribunal found the points in question were pure questions of fact and not legal controversies, citing Supreme Court decisions Mahalakshmi Sugar Mills Co. vs. CIT and CIT vs. Piare Singh. The reference application was dismissed.