1994 (7) TMI 1

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.... Sugars and Chemicals Ltd. v. CIT [1966] 62 ITR 566. We gone through the judgment and on first impression it may appear to be so. But the problem in the case is that the first question framed by the learned Income-tax Appellate Tribunal is as follows (see [1977] 109 ITR 667, 669) : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting-- Rs. 3....

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.... parties. " Therefore, the case of Travancore Sugars and Chemicals Ltd. [1966] 62 ITR 566 (SC) cannot assist us in arriving at a decision. Once the finding is given by the Tribunal as finding of fact, namely, that the amount in dispute was really relatable to acquisition of a capital asset, the question of conversion to revenue expenditure does not arise. In fact, one cannot follow such a decis....