2009 (11) TMI 532

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion for opinion of this court :   "Whether, on the facts and in the circumstances of the case, the IAC is correct in law in holding that the commission and subsidy paid to the cane growers formed part of the purchase price of the case and thus allowable for deduction under section 37(1) of the Income-tax Act, 1961 ?"   2. The facts of the case may be noticed in brief. The assessment or .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 5, 1992 passed by the Assessing Officer is without jurisdiction. Against the said order of the Tribunal the present reference application has been filed.   3. Heard Sri A. N. Mahajan, learned standing counsel for the Revenue and Sri S. D. Singh for the assessee.   4. We find no illegality in the order of the Tribunal. Obviously, when the order dated March 23, 1990 passed by the Commiss .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X