1997 (9) TMI 59

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..... tax Act, 1961, at the instance of the assessee and the following question of law has been referred by the Tribunal for answer of this court : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in disallowing the expenditure of Rs. 2,90,659 under section 37(4) of the Income-tax Act, 1961, which was incurred by the assessee on the residential a .....

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..... eved by the order of the Tribunal, approached the Tribunal for making reference before this court and, accordingly, the Tribunal referred the aforesaid question of law for opinion of this court. Without going into the merits of the case, suffice it to say that a complete answer is provided under section 37(4) of the Act which says that after the February 28, 1970, expenses on the maintenance of .....

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