1995 (9) TMI 57

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... referred the following question for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that the payment of Rs. 34,665 is a capital expenditure ? " The assessee is a firm carrying on business in hardware, agricultural instruments and gandases. The assessee acquired the factory from one Sushil Bolts and Nuts Co. which h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d part. " Subsequently, the estate officer made a demand of Rs. 43,311 towards the arrears of rent. The assessee paid the said amount and claimed it as deduction from income-tax, the Income-tax Officer, however, allowed one year's rent of the previous year towards deduction and disallowed the remaining amount, namely, Rs. 34,665. Aggrieved, the assessee filed an appeal before the appellate auth .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X