COMMISSIONER OF INCOME TAX Vs. AUDCO INDIA LTD

JUDGEMENT

(1.) BY this reference under s. 256 (1) of the IT Act, 1961, the Tribunal has referred the following questions of law for opinion of this Court at the instance of the Revenue :

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was justified in law to hold that the claim under s. 35 of the IT Act, in respect of depreciation on assets brought into use in scientific research unit in the prior years may be finally determined in the light of the Supreme Court's decision in writ petition on this issue, which was yet to be pronounced in different group of cases, in spite of amendment to s. 35 of the IT Act, 1961 made by the Finance (No. 2) Act of 1980, which was applicable on the date of the decision of the Tribunal ?

(3.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that reimbursement of medical expenses do not form a part of salary or perquisite in applying the provisions of s. 40a (5) of the IT Act, 1961, for consideration of disallowance in computing the income of the assessee ?