1989 (3) TMI 33

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..... bunal") has referred the following question of law for the decision of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee is entitled to deduction of the sum of Rs. 1,50,204 for the assessment year 1975-76 ?" The respondent is an assessee to income-tax. We are concerned with the assessment year 1975-76. For the .....

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..... sessee is entitled to deduction of Rs. 1,50,204 for the assessment year 1975-76 though it did not exceed 8-1/3%. In the light of the earlier Bench decision in Periya Karamalai Tea and Produce Co. Ltd.'s case [1987] 167 ITR 32, we answer the question referred to us in the negative, against the assessee and in favour of the Revenue. A copy of this judgment under the seal of this court and the si .....

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