1988 (7) TMI 40

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..... the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing the claim of Rs. 38,000 as revenue expenditure ?" The material facts giving rise to this reference briefly are as follows The assessee is a private limited company. Whi .....

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..... e preferred a further appeal to the Tribunal which was allowed. As the application submitted by the Revenue before the Tribunal for making a reference was rejected, the Revenue filed an application under section 256(2) of the Income-tax Act, 1961, to this court which was allowed and the Tribunal was directed to state the case and to refer the aforesaid question of law to this court for its opinion .....

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..... ce a right or asset of an enduring nature. The finding of the Commissioner of Income-tax (Appeals) that the expenditure represented the cost of the structure and the acquisition of tenancy rights has not been set aside by the Tribunal. By making the payment of Rs. 38,000 to Sardar Darshan Singh, the assessee acquired the right to possession. In similar circumstances, a Division Bench of the Calcut .....

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