1981 (9) TMI 103

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..... of the I.T. Act, 1961 : "Whether, on the facts and in the circumstances of the case, it has been rightly held by the Tribunal that the guarantee commission paid of Rs. 14,003 in acquiring certain machinery in the assessee's case and for stay of tax is an admissible deduction under section 37 of the Income-tax Act, 1961, for the assessment year 1970-71 ? " The question, in so far as it refers .....

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..... e third item is for the purpose of complying with a condition in the order granting stay of collection of tax pending disposal of the appeal or other proceedings on sales tax. As far as the first two amounts are concerned, the matter has already been decided in Sivakami Mills Ltd. v. CIT [1979] 120 ITR 211. As far as the third amount is concerned, it would stand on an a fortiori footing, because .....

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