NACHIMUTHU INDUSTRIAL ASSOCIATION Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) The following two questions were raised before the Tribunal (see 1980 123 ITR 611, 612):

(2.) The amount of Rs. 2,50,000 was set apart as provision in the accounts of the assessee. The finding of fact is that the amount was not actually applied for charitable or religious purposes. In that view of the matter, the question was answered against the assessee.

(3.) We see no reason to interfere with this order of the High Court. The appeal is dismissed. There will be no order as to costs.