1990 (8) TMI 39

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... l has referred to this court for opinion the following two questions as questions of law under section 256(1) of the Income-tax Act, 1961 : "1. On the facts and in the circumstances of the case, whether, for working out the disallowance required to be made under the provisions of section 40(c)(iii) of the Income-tax Act, 1961, the cash allowances like fixed monthly allowance, bonus and incentives .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... as been referred by the Tribunal at the instance of the assessee in the reference application filed by the Department. The assessee had lost before the Tribunal and the question raised herein is not dependent upon the Department's question. In that view of the matter, it has to be held, in view of the Supreme Court decision in the case of CIT v. V. Damodaran [1980] 121 ITR 572, that reference of t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X