CIT Vs. ABDUL KARIM STONE

JUDGEMENT

(1.) ON an application filed under section 256(1) of the Income Tax Act, 1961, the Tribunal has referred the following questions for the opinion of this court :

(2.) THE assessee -firm has been carrying on the business of owning. stone mines and extracting stones therefrom and selling those stones. During the course of assessment, assessing officer had disallowed the amount of Rs. 503 by invoking the provisions of section 43B, as the amount has not been paid within the previous year relevant for assessment year 1986 -87.

(3.) FOLLOWING the view taken by their Lordships, we find no infirmity in the view taken in respect of allowance of tax under section 43B of the Act.