2006 (10) TMI 441

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..... estions of law are proposed for the admission of this Appeal. [A] Whether on the facts and in the circumstances of the case the Appellate Tribunal is right in law in allowing the appeal of assessee on the ground that when it is not open to the assessee to disclaim any allowance/expense and profit and gain of an industrial undertaking covered under chapter VIA of the I.T.Act,1961 has to be comp .....

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..... tion to pay interest to the partners which was authorized as per the partnership deed and was due within the parameters of the provisions of section 40(b)(iv) of the I.T.Act, 1961 particularly in background of the fact that the assessee had claimed deduction u/s.80IB of the I.T. Act? The learned Counsel for the revenue fairly admits that similar issue was raised in case of Commissioner of Inco .....

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