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1990 (12) TMI 323
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....bunal, Jaipur, vide order dt. 2nd Sept., 1988 rejected the application moved by the assessee under s. 256 (1) of the IT Act, the asessee prayed that the following questions may be framed and the matter may be referred to the High Court for determination on the points of law : 1. Whether the learned Tribunal was right in law in holding that a sum of Rs. 2,35,491.17 being expenses for level....
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....or delivery at stock pile at Thakurani railway siding in terms of agreement dated 18th Sept., 1981 between Orissa Minerals Development Company Ltd. (Now a Government Undertaking) and the assessee firm? 4. Whether, the order of the learned Tribunal is not perverse and is not vitiated for arriving at wrong findings? 5. Whether, the learned Tribunal was right in law in holding that ....
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....ee is that the Tribunal has held that in applying the provisions of s. 35E of the IT Act, according to the petitioner, s. 37 of the Act applies. 5. It is not in dispute that the petitioner is performing the job of excavating, sizing, sorting of ore. Thus, the petitioner assessee purchases iron ore and transports the same at the railway side. Sec. 35E (1) of the IT Act provides that the person w....
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.... and credited and debited in his account. It is not a case that it is credited and debited in the account of the other persons. We are of the view that s. 35E of the Act applies. 7. We will also like to refer to s. 37 of the IT Act. This section excludes all types of expenditures which fall within the purview of ss. 30 to 36 of the Act. Thus s. 37 also does not apply. If any expenditure falls w....