9911796707
TMI Blog1981 (1) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... his reference under s. 256(2) of the I.T. Act, 1961, are as follows : "1. Whether, on the facts and in the circumstances of the case, the assessee was entitled to claim deduction of Rs. 1,08,922 as a revenue expenditure ? 2. If the answer to question No. 1 is in the affirmative, whether the Tribunal was justified in disallowing the said claim of the assessee ? " The relevant facts which pertain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tances, certain disputes arose between the Awasthis and others. The Awasthis lodged a complaint against these persons with the detective department of the State Police. Sensing that they would be prosecuted under the provisions of Cr. P.C., through a common friend, these persons approached for a settlement of the entire dispute. These persons admitted all the allegations made by the Awasthis. In o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nlawful use of the goodwill and utilisation of the assets of the said firm. The AAC upheld the action of the ITO. The assessee went up in appeal before the Tribunal. After setting out the facts, the Tribunal had referred to the decisions placed before it and was of the view that it was not disputed that the aforesaid amount was paid once and for all and that too in a peculiar way. In this view of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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