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TMI Blog1990 (8) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... ? (ii) Whether the Income-tax Appellate Tribunal was correct in law and on facts in holding that the expenditure of Rs. 73,730 incurred on the visit of Shri S. L. Singhania and Shri S. S. Mishra is revenue expenditure and not capital expenditure ? (iii) Whether the Income-tax Appellate Tribunal was correct in law and on facts in holding that the expenditure of Rs. 39,625 incurred by Shri S. R. Singhania and Shri. B. N. V. Iyengar on foreign tours in connection with manufacturing programmes of various machines is revenue expenditure and not capital expenditure ? (iv) Whether the Income-tax Appellate Tribunal was correct in law and on facts in holding that the expenditure of Rs. 37,064 incurred on travelling by the wives of the employee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation on the machinery installed in the premises of J. K. C. M. and P. P. L. ? (viii) Whether the Income-tax Appellate Tribunal was correct in law and on facts in holding that excise duty liability of Rs. 12,72,672 continued to exist and is thus allowable as deduction especially when with the decision of the Rajasthan High Court dated 14th May, 1976, the liability ceased to exist in law ? (ix) Whether the Income-tax Appellate Tribunal was correct in law and on facts in holding that the cash allowance paid by the assessee-company to its employees are not to be treated as perquisites but only a part of salary, specially in view of the decision of the Delhi High Court in J. Dalmia v. CIT [1982] 138 ITR 653 ? (x) Whether the Income-tax Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e amount of Rs. 1,80,000 received by the assessee-company for security deposit for cops is not an integral part of the transaction of the sale of yarn and is thus not income of the assessee ?" The Income-tax Appellate Tribunal, under section 256(1) of the Act, has already referred questions Nos. 5, 6 and 8. In our opinion, out of the remaining questions, questions Nos. 1, 7, 9, 10, 12 and 13 are not questions reference of which can be called for. The reasons for the same are as follows : With regard to question No. 1 the finding of fact of the Tribunal is that setting up of the company was the business of the assessee and this being so, incurring expenses on such foreign tour in connection with the business activity can (sic) be regar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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