2016 (12) TMI 412

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.... None for the respondent ORDER P. C. 1. By this Reference under Section 256 (1) of the Income Tax Act, 1961 (the Act) the Income Tax Appellate Tribunal has referred the following substantial questions of law for our opinion : (i) Whether on the facts and in the circumstances of the case, the Tribunal was justified in holding the amount appropriated towards the Sinking Funds was ....

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....ame arises. Thus, returned unanswered. 4. So far as question (i) is concerned, Ms. Yasmeen Sabir, very fairly brings to our notice the order of this Court in Income Tax Reference No.78 of 1998 (M/s. M. Visvesvaraya Industrial Research and Development Centre Vs. Commissioner of Income Tax) decided on 25th October, 2012. The above Reference related to Assessment Years 1989-90 and 1990-91 in respe....