2002 (9) TMI 60

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....YASIMHA BABU J.-Two questions have been referred to us at the instance of the assessee. The questions are, "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that the payments made to K.S. Transports attract the provisions of section 40A(2)? 2. Whether, on the facts and in the circumstances of the case, the Income tax Appell....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....transport charge. The firm, K.S. Transports, consisted of four partners one of whom is a director of the assessee-company, two partners are ladies who are the spouses of two directors and the fourth partner is the son of another director. The Assessing Officer held that section 40A(2)(b) was attracted to the assessment of the assessee's income as the 100 per cent. increase in the transport char....