1986 (12) TMI 375

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..... relate to the asst. yrs. 1971-72 and 1972-73. They arise out of the assessments of the respondent company for the said assessment years. It is not necessary to set out the facts at length because the questions referred to this Court can be disposed of without a detailed reference to those facts. 2. The first two question referred to this Court read as fellows : 1. Whether, on the facts and .....

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..... Department following the decision of the Supreme Court in the case of Lohia Machiner Ltd. and Anr. vs. Union of India and Ors. (1985) 44 CTR (SC) 328: (1985) 152 ITR 308(SC). For the same reasons, we give the same answer to these questions for these two assessment years as well. 3. The next question that is referred to this Court is in the following terms : Whether, on the facts and in th .....

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..... r, on the facts and in the circumstances of the case, the Tribunal was justified in law in directing the ITO to work out the disallowable expenditure under s. 40(a)(v) by including cash allowance as part of salary ? We are of the opinion the so far as the asst. yr. 1971-72 is concerned, this question has to be obviously answered in the affirmative and in favour of the assessee in view of the .....

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