1979 (10) TMI 124

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... income of the assessee from business. 2. The assessee is a company engaged in the manufacture of yarn. The assessee claimed before the ITO that a sum of Rs. 5,48,950 being the sur-tax liability for the company for 1975-76 should be allowed as an admissible expense under s.37 of the Act as according to the assessee the payment was incidental to the carrying on of the business in corporate from. T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s the Tribunal held that surtax is not an admissible deduction under s. 37 of the IT Act. No doubt there is no High Court decision brought to our notice. However, in view of the Tribunal's decisions referred to above we confirm the finding of the AAC on this point. 4. The assessee relied on the decision of the Supreme court in the case of Jaipuria Samla Amalgamated Collieries Ltd. vs. CIT, West .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X