1990 (11) TMI 411

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..... 256 (1) of the IT Act, 1961 for the asst. yrs. 1979-80 to 1982-83 the following questions of law have been referred to this Court: R. A. No. 5 (Cal) of 1988 (1) Whether, on the facts and in the circumstances of the cases, the Tribunal was correct in law in holding that the interest on fixed deposits amounting to ₹ 6,07,688 was not assessable as income of the assessee? (2) Whe .....

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..... R.A. No. 7 (Cal) of 1988 (1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the interest on fixed deposits amounting to ₹ 780,331 was not assessable as income of the assessee? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the amount of ₹ 7,90,968 .....

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..... question in R. A. Nos. 5, 6 and 7 (Cal) of 1988 and only question in R. A. No. 8 (Cal) of 1988 are misconceived inasmuch as it appears that the assessee never claimed any deduction in respect of the sums credited in the P L A/c and accordingly, the provision of s. 41 (1) of the IT Act, 1961 could not be applied to the facts of this case. 4. In that view of the matter, we answer the aforesaid qu .....

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