2001 (7) TMI 47

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.... JAWAHAR LAL GUPTA J. -This is a reference by the Income-tax Appellate Tribunal at the instance of the assessee. The following two questions have been referred to this court for opinion "(1) Whether, on the facts and circumstances of the case, the Tribunal was right in law in confirming the disallowance of the assessee's claim of Rs.25,782 as surtax liability while computing its taxable inco....

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.... Tribunal the assessee has sought the reference and has now come to this court. Mr. Ajay Mittal learned counsel for the assessee, contends that a tax paid by the assessee is not income but is a deductible part of the expenditure. He further submits that the action of the Revenue in disallowing the amount kept for set on of bonus under section 15(1) of the Payment of Bonus Act, 1965, could not h....