HARYANA WAREHOUSING CORPORATION Vs. CIT

JUDGEMENT

(1.) Following questions of law have been ref erred for opinion of this Court by the Income Tax Appellate Tribunal, Chandigarh, arising out of its order dated 1-1-1998 passed in ITA No. 3342 (Delhi)/97 in respect of assessment year 1994-95:

(2.) Whether Income Tax Appellate Tribunal was justified in law in upholding the disallowance of Guest House rent amounting to Rs. 39,000.

(3.) Following the orders for assessment year 1992-93, the assessing officer disallowed exemption to income of Rs. 10,05,38,502 from procurement of wheat in this year, i.e., assessment year 1994-95. On appeal filed by the assessee, it was upheld by the Commissioner (Appeals) and on further appeal, the Tribunal, following its order for assessment year 1992-93, sustained the levy of tax.