1994 (7) TMI 350

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....andawat JUDGMENT V. K. Singhal, J. The Tribunal has referred the following questions of law arising out of its order dated 27-1-1986 in respect of the assessment year 1980-81 under section 256(1) of the Income-tax Act, 1961 : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the development charges paid to RIICO is capital ....

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....ly capital in nature though the land is a leasehold land. This matter was considered by this Court in the case of Manoj Dyeing Co. v. CIT [1995] 212 ITR 299 (Raj.) and it was held that: ". . . the nature of expenditure is in relation to a capital asset namely, the land which has been allotted by the RIICO to the petitioner. The expenditure is in relation to a fixed capital/asset and not t....

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....ion of fact and in the statement of case no facts have been stated. The Tribunal has only observed in respect of both the questions that the questions of law do arise- out of the order of the Tribunal. The statement of the ease was accordingly drawn but neither any facts have been stated nor it could be considered that the question raised by the assessee is a question of law and, therefore, we ref....