COMMISSIONER OF INCOME TAX Vs. GRAPHITE INDIA LTD

JUDGEMENT

(1.) By this reference at the instance of the Revenue, the following questions have been referred by the Tribunal to this court under Section 256(2) of the Income-tax Act, 1961, for the assessment years 1981-82 and 1982-83 :

(2.) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amounts of Rs. 34,926 and Rs. 10,000 as well as Rs. 91,568 were allowable notwithstanding the provisions of Section 80VV of the Income-tax Act, 1961 ?

(3.) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the addition of Rs. 1 lakh ? Additional question in R. A. No. 436/(Cal) of 1992 for the assessment year 1982-83 :