Jurisdiction to allow a deduction for a later assessment year was referred to the Tribunal for a case stated

The Delhi High Court directed the Tribunal to state a case and refer the question of law on whether it had jurisdiction to allow a deduction for a subsequent assessment year while dealing with the earlier assessment year. The applications were disposed of on that basis, with the issue left for reference on the Tribunal's jurisdiction and the proper assessment year for the deduction.

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Outcome: The applications were disposed of after directing the Tribunal to state a case and refer the question of law regarding its jurisdiction to allow a deduction for the subsequent assessment year while dealing with the earlier assessment year.

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