WIDIA INDIA LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN this reference under Section 256(1) of the INcome-tax Act, 1961 (hereinafter referred to as "the Act" for short), made at the instance of the assessee, the Bangalore Bench of the INcome-tax Appellate Tribunal, has referred the following question for our opinion :

(2.) THE brief facts, as could be made out from the statement of the case and other material on record are that for the assessment year 1984-85, the assessee, which is a precision tools manufacturing company limited, filed a return of its income and in respect of certain items of expenditure, claimed as deductible expenditure under Section 37 of the Act, had also indicated that some amounts in the said expenditure, did attract the provisions of Section 37(3A) of the Act and accordingly had disallowed 20 per cent, of such items of expenditure which attracted the provisions of Section 37(3A) of the Act.

(3.) THE assessee, being aggrieved by this order, sought for referring the question of law said to be arising out of the order of the Tribunal, for the opinion of this court.