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TMI Blog2002 (8) TMI 59X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellate Tribunal justified in law in not allowing the claim of the assessee of Rs. 41,689 within the meaning of section 57(iii) of the Income-tax Act?" - we feel that it is not a fit case where we should now go into the controversy, sought to be raised before us by learned counsel for the assessee. - In view of the decision of the Supreme Court in Bharat Commerce and Industries Ltd.'s case, the question referred is answered in the affirmative, that is, in favour of the Revenue and against the assessee. - - - - - Dated:- 1-8-2002 - Judge(s) : D. K. JAIN., MS. SHARDA AGGARWAL. JUDGMENT The judgment of the court was delivered by D.K. JAIN J.- (Civil Misc. No...2002). Let a number be assigned to the application. By this applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said deduction on the ground that it was penal in nature and also not incidental to the business of the assessee. Aggrieved, the assessee preferred an appeal to the Appellate Assistant Commissioner but without success. The assessee carried the matter in further appeal to the Tribunal. The Tribunal affirmed the view taken by the lower authorities by observing that the assessee had failed to show that the interest paid by him to the Income-tax Department was an expenditure laid out or made wholly and exclusively for the purpose of its business. The Tribunal, thus, held that the assessee was not entitled to claim the said interest as business expenditure under section 37(1) of the Act. On an application being moved by the assessee under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Tribunal was justified in upholding the disallowance of the claim of Rs. 41,689 or part thereof, while computing the income of the assessee for the assessment year 1971-72? 2. Alternatively, whether, on the facts and in the circumstances of the case, was the Income-tax Appellate Tribunal justified in law in not allowing the claim of the assessee of Rs. 41,689 within the meaning of section 57(iii) of the Income-tax Act?" However, the Tribunal while referring the aforenoted question has not even commented on the second question proposed by the assessee, perhaps for the reason that it did not arise out of the order. We feel that if the assessee had any grievance with the order of the Tribunal regarding non-consideration of his plea rela ..... X X X X Extracts X X X X X X X X Extracts X X X X
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