2000 (9) TMI 21

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..... fore, being disposed of by this common order. At the instance of the Revenue, the following questions have been referred under section 256(1) of the Income-tax Act, 1961 (in short "the Act"), by the Income-tax Appellate Tribunal, Delhi Bench "A" (in short "the Tribunal"), for the opinion of this court: "1. Whether, on the facts and in the circumstances of the case, the Tribunal is legally correc .....

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..... ning of section 37(2B) has been dealt with in detail by the apex court in CIT v. Patel Bros and Co. Ltd. [1995] 215 ITR 165. Following the view expressed in said case, we answer the first question in the affirmative, in favour of the assessee and against the Revenue. So far as the second question is concerned, we find that the Tribunal has as a matter of fact found that the legal expenses were .....

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