https://www.taxtmi.com/caselaws?id=185031 No referable question of law arose on the allowability of deduction for partners' salary and interest where profits were computed on a net profit rate, as the issue had already been answered by the same court in an earlier reference and was treated as settled on the facts found by the Tribunal. The Revenue's contention based on the proviso to Section 44AD(2) was not entertained because it had not been raised before the Tribunal, and a new point cannot be examined at the reference stage. The reference applications were therefore rejected for want of any question of law. en-us Fri, 24 Sep 1999 00:00:00 +0530 Thu, 29 Dec 2016 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185031 No referable question of law arose on the allowability of deduction for partners' salary and interest where profits were computed on a net profit rate, as the issue had already been answered by the same court in an earlier reference and was treated as settled on the facts found by the Tribunal. The Revenue's contention based on the proviso to Section 44AD(2) was not entertained because it had not been raised before the Tribunal, and a new point cannot be examined at the reference stage. The reference applications were therefore rejected for want of any question of law. Case-Laws Income Tax Fri, 24 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185031